California State Teachers Retirement System Has $8.78 Million Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• California State Teachers Retirement System increased its Kinsale Capital Group stake by 22.7% in the first quarter, reaching 25,710 shares valued at approximately $8.78 million. Institutional investors and hedge funds collectively own 85.36% of the company.
• Kinsale reported quarterly EPS of $5.54, beating estimates of $5.11, while revenue rose 16.8% year over year to $548.52 million. The company also pays a quarterly dividend of $0.25 per share, equivalent to a 0.3% yield.
• Analysts remain cautious, with one Buy, six Hold and three Sell ratings producing a consensus “Reduce” rating and an average price target of $362.11; KNSL recently traded at $363.09.

California State Teachers Retirement System grew its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 22.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,710 shares of the financial services provider's stock after purchasing an additional 4,758 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Kinsale Capital Group worth $8,784,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Ashford Capital Management Inc. increased its holdings in Kinsale Capital Group by 16.3% during the first quarter. Ashford Capital Management Inc. now owns 44,360 shares of the financial services provider's stock worth $15,156,000 after buying an additional 6,215 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Kinsale Capital Group by 68.6% in the first quarter. Quantinno Capital Management LP now owns 20,094 shares of the financial services provider's stock valued at $6,866,000 after acquiring an additional 8,173 shares during the last quarter. Lombard Odier Asset Management USA Corp bought a new position in shares of Kinsale Capital Group in the 1st quarter valued at about $262,000. Wealth Alliance LLC increased its stake in shares of Kinsale Capital Group by 42.5% during the 1st quarter. Wealth Alliance LLC now owns 851 shares of the financial services provider's stock worth $291,000 after purchasing an additional 254 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $1,493,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Stock Up 0.7%

Shares of KNSL opened at $363.09 on Wednesday. The firm has a market cap of $8.27 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $485.00. The firm's 50-day simple moving average is $328.12 and its 200 day simple moving average is $347.38.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million during the quarter, compared to analysts' expectations of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The business's revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.78 earnings per share. On average, analysts forecast that Kinsale Capital Group, Inc. will post 21.12 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 4.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on KNSL. Morgan Stanley cut their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a research note on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Wells Fargo & Company upped their price objective on Kinsale Capital Group from $366.00 to $377.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Finally, Royal Bank Of Canada reduced their target price on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating for the company in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $362.11.

Insiders Place Their Bets

In other news, CAO Christopher R. Tangard bought 330 shares of the company's stock in a transaction dated 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 completion of the acquisition, the chief accounting officer owned 380 shares of the company's stock, valued at $115,520. This represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Salmaan K. Allibhai sold 250 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares of the company's stock, valued at approximately $1,134,214.65. The trade was a 6.42% decrease in their position. The SEC filing for this sale provides additional information. 5.60% of the stock is currently owned by company insiders.

Kinsale Capital Group Company Profile

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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