Cetera Investment Advisers Raises Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Cetera Investment Advisers increased its stake in Kinsale Capital Group by 7.3%, acquiring an additional 589 shares during the first quarter, bringing its total holdings to 8,625 shares valued at approximately $4.2 million.
• Kinsale Capital Group's recent quarterly earnings exceeded expectations, reporting $4.78 earnings per share against a consensus estimate of $4.41, and a revenue increase of 22.2% compared to the previous year.
• The company declared a dividend of $0.17, with a dividend yield of 15.0%, paid to stockholders on June 12th.

Cetera Investment Advisers boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 7.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,625 shares of the financial services provider's stock after purchasing an additional 589 shares during the quarter. Cetera Investment Advisers' holdings in Kinsale Capital Group were worth $4,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Key Financial Inc lifted its holdings in shares of Kinsale Capital Group by 315.4% in the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 41 shares in the last quarter. NBC Securities Inc. acquired a new stake in Kinsale Capital Group during the first quarter worth about $35,000. von Borstel & Associates Inc. acquired a new stake in Kinsale Capital Group during the first quarter valued at approximately $42,000. Anderson Financial Strategies LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $54,000. Finally, SBI Securities Co. Ltd. raised its position in Kinsale Capital Group by 39.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 138 shares of the financial services provider's stock worth $67,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL traded down $4.66 during midday trading on Thursday, hitting $440.32. 92,209 shares of the stock were exchanged, compared to its average volume of 206,933. The company has a 50 day moving average price of $471.55 and a 200-day moving average price of $462.67. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79. The stock has a market cap of $10.26 billion, a P/E ratio of 23.03, a PEG ratio of 1.64 and a beta of 1.12. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.37. The firm had revenue of $458.70 million for the quarter, compared to analyst estimates of $436.25 million. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%. The firm's revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the company earned $3.75 earnings per share. On average, research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a $0.17 dividend. This represents a yield of 15.0%. The ex-dividend date of this dividend was Thursday, May 29th. Kinsale Capital Group's payout ratio is presently 3.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KNSL. Morgan Stanley increased their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Truist Financial lifted their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Bank of America began coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 target price for the company. BMO Capital Markets upped their price objective on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $506.44.

Insider Transactions at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the transaction, the executive vice president owned 6,646 shares in the company, valued at approximately $3,136,912. This trade represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.50% of the company's stock.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.