Cumberland Partners Ltd Buys New Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• Cumberland Partners Ltd bought a new stake in Kinsale Capital Group during the fourth quarter, acquiring 6,000 shares valued at about $2.35 million.
• Kinsale reported strong quarterly results, with EPS of $5.11 beating estimates and revenue of $466.71 million coming in above expectations, though revenue was slightly lower than a year ago.
• Analysts remain cautious overall: the stock has a consensus Hold rating, recent target cuts from multiple firms, and CEO Michael P. Kehoe recently sold 22,576 shares in a disclosed insider transaction.

Cumberland Partners Ltd bought a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,000 shares of the financial services provider's stock, valued at approximately $2,347,000.

A number of other large investors have also recently bought and sold shares of the company. Bamco Inc. NY boosted its position in Kinsale Capital Group by 1.4% in the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider's stock valued at $760,616,000 after buying an additional 24,796 shares during the last quarter. DAVENPORT & Co LLC boosted its position in Kinsale Capital Group by 1.9% in the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider's stock valued at $208,443,000 after buying an additional 10,137 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Kinsale Capital Group by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider's stock valued at $191,386,000 after buying an additional 25,428 shares during the last quarter. Invesco Ltd. boosted its position in Kinsale Capital Group by 2.6% in the third quarter. Invesco Ltd. now owns 274,724 shares of the financial services provider's stock valued at $116,829,000 after buying an additional 6,934 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Kinsale Capital Group by 15.1% in the third quarter. Dimensional Fund Advisors LP now owns 273,724 shares of the financial services provider's stock valued at $116,390,000 after buying an additional 35,864 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $310.59 on Friday. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.01 and a beta of 0.95. Kinsale Capital Group, Inc. has a twelve month low of $293.78 and a twelve month high of $512.76. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $334.78 and a 200 day moving average of $369.61.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $466.71 million during the quarter, compared to analysts' expectations of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.Kinsale Capital Group's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.71 EPS. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 20.58 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced 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 annualized dividend 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 is presently 4.40%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KNSL shares. Jefferies Financial Group downgraded Kinsale Capital Group from a "hold" rating to an "underperform" rating and decreased their price target for the company from $392.00 to $312.00 in a report on Thursday, March 19th. Royal Bank Of Canada decreased their price target on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating for the company in a report on Monday, April 27th. Wells Fargo & Company downgraded Kinsale Capital Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $420.00 to $357.00 in a report on Monday, April 27th. Morgan Stanley decreased their price target on Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a report on Thursday. Finally, Truist Financial decreased their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $390.18.

Insider Buying and Selling at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of the company's 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 transaction, the chief executive officer directly owned 308,048 shares of the company's stock, valued at $93,233,807.68. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by insiders.

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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