Dimensional Fund Advisors LP Boosts Stock Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Dimensional Fund Advisors LP increased its holdings in Kinsale Capital Group by 13.2%, acquiring an additional 26,282 shares in the first quarter, resulting in ownership of approximately 0.97% of the company valued at $109.6 million.
• A majority of the stock, 85.36%, is owned by institutional investors and hedge funds, showcasing significant institutional interest in Kinsale Capital Group.
• Kinsale Capital recently announced a quarterly dividend of $0.17 per share, with a yield of 0.1%, reflecting the company's ongoing profitability and commitment to shareholders.

Dimensional Fund Advisors LP increased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 13.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,186 shares of the financial services provider's stock after acquiring an additional 26,282 shares during the quarter. Dimensional Fund Advisors LP owned about 0.97% of Kinsale Capital Group worth $109,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new stake in Kinsale Capital Group in the first quarter worth approximately $540,000. Nuveen LLC bought a new stake in Kinsale Capital Group in the first quarter worth approximately $38,487,000. King Luther Capital Management Corp bought a new stake in Kinsale Capital Group in the first quarter worth approximately $1,394,000. Fiduciary Family Office LLC bought a new stake in Kinsale Capital Group in the first quarter worth approximately $318,000. Finally, Benjamin Edwards Inc. increased its holdings in Kinsale Capital Group by 15.6% in the first quarter. Benjamin Edwards Inc. now owns 1,111 shares of the financial services provider's stock worth $541,000 after purchasing an additional 150 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Up 1.5%

Shares of NYSE:KNSL traded up $6.65 during mid-day trading on Wednesday, hitting $457.38. 101,124 shares of the company traded hands, compared to its average volume of 206,629. The stock has a market cap of $10.66 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.65 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, Inc. has a 12-month low of $405.00 and a 12-month high of $531.79. The stock has a 50-day moving average price of $465.49 and a two-hundred day moving average price of $462.43.

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

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.1%. Kinsale Capital Group's payout ratio is 3.55%.

Insider Activity

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

Analysts Set New Price Targets

A number of brokerages have weighed in on KNSL. Morgan Stanley lifted their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lifted their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Truist Financial boosted their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a report on Monday, July 28th. Cantor Fitzgerald upgraded Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Finally, BMO Capital Markets boosted their price objective on Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $505.80.

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.