Engineers Gate Manager LP Buys New Position in Kinsale Capital Group, Inc. $KNSL

Engineers Gate Manager LP bought a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,410 shares of the financial services provider's stock, valued at approximately $1,454,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KNSL. Bayban acquired a new stake in shares of Kinsale Capital Group in the 4th quarter worth approximately $25,000. Parallel Advisors LLC increased its stake in shares of Kinsale Capital Group by 185.7% during the first quarter. Parallel Advisors LLC now owns 120 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 78 shares during the period. Western Wealth Management LLC acquired a new position in shares of Kinsale Capital Group during the first quarter valued at approximately $60,000. Commonwealth Retirement Investments LLC bought a new stake in Kinsale Capital Group during the fourth quarter worth approximately $109,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Kinsale Capital Group during the fourth quarter worth approximately $117,000. 85.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KNSL. Morgan Stanley upped their target price on Kinsale Capital Group from $345.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. Weiss Ratings raised Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. upped their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the company a "neutral" rating in a report on Monday, July 20th. TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $368.78.

Kinsale Capital Group Trading Down 0.3%

Shares of NYSE:KNSL opened at $359.54 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.14 and a beta of 0.89. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $485.00. The company has a 50 day moving average price of $364.68 and a 200 day moving average price of $343.27.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The company had revenue of $548.52 million for the quarter, compared to analysts' expectations of $445.13 million. During the same quarter in the prior year, the company earned $4.78 earnings per share. The firm's revenue was up 16.8% on a year-over-year basis. On average, research analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, August 28th. Kinsale Capital Group's payout ratio is presently 4.05%.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty insurance company headquartered in Richmond, Virginia. Through its principal subsidiary, Kinsale Insurance Company, the company provides property and casualty insurance products in the excess and surplus lines market, which serves risks that may not be covered by standard insurance carriers.

Kinsale's offerings include commercial property, casualty and specialty insurance for businesses and organizations with complex or higher-risk exposures.

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