Erste Asset Management GmbH Grows Stake in Kinsale Capital Group, Inc. $KNSL

Key Points

• Erste Asset Management GmbH increased its stake in Kinsale Capital Group by 1.6%, owning a total of 45,727 shares valued at approximately $22.2 million after acquiring 733 shares in the first quarter.
• Several other investors have also adjusted their holdings in Kinsale Capital Group, with notable increases in positions from firms such as Coldstream Capital Management and Private Trust Co. NA.
• Kinsale Capital Group recently reported strong financial performance, with $4.78 EPS for the quarter, surpassing analyst expectations, and a 22.2% year-over-year revenue increase.

Erste Asset Management GmbH increased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,727 shares of the financial services provider's stock after buying an additional 733 shares during the quarter. Erste Asset Management GmbH owned 0.20% of Kinsale Capital Group worth $22,229,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its holdings in Kinsale Capital Group by 10.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock valued at $1,272,000 after purchasing an additional 254 shares during the period. Bridges Investment Management Inc. grew its position in shares of Kinsale Capital Group by 111.5% in the first quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock valued at $2,446,000 after purchasing an additional 2,650 shares in the last quarter. M&T Bank Corp raised its stake in shares of Kinsale Capital Group by 43.4% during the 1st quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock valued at $1,787,000 after purchasing an additional 1,111 shares during the period. Artemis Investment Management LLP lifted its holdings in Kinsale Capital Group by 43.9% during the 1st quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock worth $39,387,000 after purchasing an additional 24,681 shares in the last quarter. Finally, Moody Aldrich Partners LLC bought a new position in Kinsale Capital Group in the 1st quarter worth about $270,000. Institutional investors own 85.36% of the company's stock.

Insider Buying and Selling at Kinsale Capital Group

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

Wall Street Analyst Weigh In

Several brokerages recently commented on KNSL. JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Truist Financial increased their price objective 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. Finally, Morgan Stanley boosted their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $505.80.

Kinsale Capital Group Price Performance

NYSE KNSL traded down $4.85 on Monday, reaching $450.53. 35,145 shares of the company's stock traded hands, compared to its average volume of 205,557. Kinsale Capital Group, Inc. has a 12 month low of $405.00 and a 12 month high of $531.79. The stock has a market cap of $10.50 billion, a PE ratio of 23.50, a P/E/G ratio of 1.67 and a beta of 1.12. The stock has a 50-day simple moving average of $466.15 and a 200 day simple moving average of $462.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $436.25 million. During the same quarter last year, the firm earned $3.75 EPS. The firm's quarterly revenue was up 22.2% compared to the same quarter last year. As a group, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.55%.

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.