Caisse de depot et placement du Quebec Invests $26.29 Million in Kinsale Capital Group, Inc. $KNSL

Key Points

• Caisse de dépôt et placement du Québec acquired 79,711 Kinsale Capital Group shares worth approximately $26.29 million, giving it a 0.35% stake. Institutional investors collectively own 85.36% of the company.
• Kinsale reported stronger-than-expected quarterly results, with earnings per share of $5.54 versus the $5.11 consensus estimate and revenue of $548.52 million, up 16.8% year over year.
• The company declared a quarterly dividend of $0.25, or $1.00 annualized, representing a 0.3% yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $368.78.

Caisse de depot et placement du Quebec bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 79,711 shares of the financial services provider's stock, valued at approximately $26,289,000. Caisse de depot et placement du Quebec owned 0.35% of Kinsale Capital Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vident Advisory LLC boosted its position in Kinsale Capital Group by 2.9% during the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider's stock valued at $399,000 after buying an additional 23 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Kinsale Capital Group by 20.9% in the second quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 28 shares during the period. CWM LLC raised its stake in shares of Kinsale Capital Group by 5.3% during the fourth quarter. CWM LLC now owns 592 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 30 shares during the last quarter. Mutual Advisors LLC raised its stake in shares of Kinsale Capital Group by 4.0% during the fourth quarter. Mutual Advisors LLC now owns 883 shares of the financial services provider's stock valued at $345,000 after acquiring an additional 34 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Kinsale Capital Group by 1.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,161 shares of the financial services provider's stock worth $1,236,000 after purchasing an additional 35 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Christopher R. Tangard acquired 330 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average price of $304.00 per share, with a total value of $100,320.00. Following the transaction, the chief accounting officer directly owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by company insiders.

Kinsale Capital Group Trading Down 0.1%

NYSE:KNSL opened at $381.25 on Friday. The firm has a market capitalization of $8.68 billion, a P/E ratio of 15.45, a PEG ratio of 1.21 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $485.00. The company's 50-day simple moving average is $354.41 and its 200 day simple moving average is $344.98.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating analysts' consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same quarter last year, the firm earned $4.78 earnings per share. The business's revenue for the quarter was up 16.8% on a year-over-year basis. As a group, analysts forecast that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio is presently 4.05%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley raised their target price on Kinsale Capital Group from $345.00 to $390.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 19th. Weiss Ratings upgraded Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. TD Cowen reiterated a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. JPMorgan Chase & Co. upped their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Finally, Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $368.78.

About Kinsale Capital Group

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

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