Congress Asset Management Co. Acquires 1,480 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Congress Asset Management Co. increased its stake in Kinsale Capital Group by 2.7%, acquiring an additional 1,480 shares during the 2nd quarter, bringing its total ownership to approximately $27.4 million.
• Kinsale Capital Group reported a quarterly earnings per share (EPS) of $4.78, exceeding analysts' expectations of $4.41, with a revenue of $458.7 million, up 22.2% year-over-year.
• The company announced a quarterly dividend of $0.17 per share, yielding 0.2%, with a payout ratio of 3.55% as of the last filing.

Congress Asset Management Co. boosted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,714 shares of the financial services provider's stock after acquiring an additional 1,480 shares during the quarter. Congress Asset Management Co. owned about 0.24% of Kinsale Capital Group worth $27,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Kinsale Capital Group by 59,220.7% during the 1st quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after purchasing an additional 308,540 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Kinsale Capital Group during the first quarter worth $125,003,000. First Manhattan CO. LLC. increased its position in Kinsale Capital Group by 401.4% during the first quarter. First Manhattan CO. LLC. now owns 201,272 shares of the financial services provider's stock valued at $97,961,000 after acquiring an additional 161,132 shares during the last quarter. Madison Asset Management LLC bought a new position in Kinsale Capital Group during the first quarter valued at $76,235,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Kinsale Capital Group by 39.8% in the first quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider's stock valued at $224,204,000 after acquiring an additional 131,056 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Trading Up 1.0%

Kinsale Capital Group stock opened at $419.40 on Friday. The stock has a 50-day moving average price of $447.32 and a 200 day moving average price of $461.31. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.13. Kinsale Capital Group, Inc. has a 52 week low of $405.00 and a 52 week high of $531.79. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

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

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were given a dividend of $0.17 per share. The ex-dividend date was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. Kinsale Capital Group's payout ratio is currently 3.55%.

Analysts Set New Price Targets

A number of equities analysts recently commented on KNSL shares. Bank of America started coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price target for the company. BMO Capital Markets boosted their target price on Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research report on Tuesday, July 29th. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Compass Point raised their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, Truist Financial increased their price target on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $505.80.

Kinsale Capital Group Company 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.

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