Capital World Investors Raises Stock Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Capital World Investors significantly boosted its Kinsale Capital Group stake by 117.4% in the fourth quarter, ending with 987,844 shares valued at about $386.4 million.
• Kinsale’s latest quarterly earnings beat expectations, with EPS of $5.11 versus the $4.70 consensus and revenue of $466.7 million above estimates, though revenue was slightly down year over year.
• Analyst sentiment has softened, with multiple firms cutting ratings and targets; the stock now carries a consensus Hold and an average price target of $390.18.

Capital World Investors raised its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 117.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 987,844 shares of the financial services provider's stock after buying an additional 533,499 shares during the period. Capital World Investors owned approximately 4.25% of Kinsale Capital Group worth $386,366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in KNSL. AQR Capital Management LLC increased its holdings in Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock valued at $397,000 after buying an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock valued at $49,000 after buying an additional 43 shares in the last quarter. Brown Advisory Inc. increased its holdings in Kinsale Capital Group by 7.9% in the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock valued at $541,000 after buying an additional 82 shares in the last quarter. Jump Financial LLC increased its holdings in Kinsale Capital Group by 136.9% in the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock valued at $531,000 after buying an additional 634 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Kinsale Capital Group by 45.3% in the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock valued at $2,430,000 after buying an additional 1,566 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on KNSL shares. BMO Capital Markets cut shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 target price for the company. in a report on Wednesday, February 25th. Truist Financial dropped their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a report on Monday, April 27th. Jefferies Financial Group cut shares of Kinsale Capital Group from a "hold" rating to an "underperform" rating and dropped their target price for the company from $392.00 to $312.00 in a report on Thursday, March 19th. Weiss Ratings cut shares of Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Finally, Wall Street Zen cut shares of Kinsale Capital Group from a "hold" rating to a "sell" rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $390.18.

Kinsale Capital Group Trading Down 2.5%

Shares of KNSL opened at $298.61 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a 50 day simple moving average of $326.22 and a 200-day simple moving average of $362.52. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $512.76. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business had revenue of $466.71 million during the quarter, compared to analysts' expectations of $410.25 million. During the same period last year, the company posted $3.71 EPS. The company's revenue was down .5% on a year-over-year basis. Equities analysts forecast that Kinsale Capital Group, Inc. will post 20.54 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, May 28th. Kinsale Capital Group's dividend payout ratio (DPR) is 4.40%.

Insider Buying and Selling

In other Kinsale Capital Group news, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares of the company's stock, valued at $93,233,807.68. The trade was a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company's stock.

Kinsale Capital Group 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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