Canada Pension Plan Investment Board Makes New Investment in Kinsale Capital Group, Inc. $KNSL

Key Points

• Canada Pension Plan Investment Board acquired 30,240 Kinsale Capital Group shares worth approximately $9.97 million, giving it a 0.13% stake. Institutional investors collectively own 85.36% of the company.
• Kinsale exceeded quarterly expectations, reporting $5.54 in EPS versus the $5.11 consensus and $548.52 million in revenue, up 16.8% year over year.
• The company declared a quarterly dividend of $0.25 per share, representing a 0.3% yield, while analysts remain cautious with a consensus “Reduce” rating and average price target of $368.78.

Canada Pension Plan Investment Board purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,240 shares of the financial services provider's stock, valued at approximately $9,973,000. Canada Pension Plan Investment Board owned 0.13% of Kinsale Capital Group as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Kinsale Capital Group in the 2nd quarter worth approximately $671,457,000. Life Cycle Investment Partners Ltd bought a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $229,653,000. Capital World Investors boosted its stake in shares of Kinsale Capital Group by 117.4% during the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider's stock valued at $386,366,000 after purchasing an additional 533,499 shares during the period. Norges Bank purchased a new stake in shares of Kinsale Capital Group during the fourth quarter valued at approximately $107,916,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Kinsale Capital Group in the second quarter worth approximately $45,595,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kinsale Capital Group news, CAO Christopher R. Tangard bought 330 shares of Kinsale Capital Group stock in a transaction dated Monday, June 8th. The shares were purchased at an average cost of $304.00 per share, with a total value of $100,320.00. Following the transaction, the chief accounting officer directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by insiders.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $381.25 on Friday. The company has a 50-day simple moving average of $354.41 and a two-hundred day simple moving average of $344.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $8.68 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.20 and a beta of 0.89. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $485.00.

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

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a dividend of $0.25 per share. 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 payout ratio is currently 4.05%.

Analyst Upgrades and Downgrades

KNSL has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. TD Cowen reissued a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Weiss Ratings raised shares of Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Finally, Morgan Stanley upped their price objective on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $368.78.

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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