Fox Run Management L.L.C. Buys Shares of 1,109 Kinsale Capital Group, Inc. $KNSL

Key Points

• Fox Run Management L.L.C. has acquired a new stake in Kinsale Capital Group, purchasing 1,109 shares valued at approximately $540,000 during the first quarter.
• Analysts have raised their price targets for Kinsale Capital Group, with BMO Capital Markets increasing it from $429.00 to $474.00, highlighting a generally positive outlook on the company.
• Kinsale Capital Group reported impressive earnings, with an EPS of $4.78 for the quarter, surpassing analyst expectations and marking a revenue increase of 22.2% compared to the same period last year.

Fox Run Management L.L.C. acquired a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,109 shares of the financial services provider's stock, valued at approximately $540,000.

A number of other hedge funds have also recently made changes to their positions in the business. Nuveen LLC acquired a new position in shares of Kinsale Capital Group during the first quarter valued at about $38,487,000. King Luther Capital Management Corp acquired a new position in shares of Kinsale Capital Group during the first quarter valued at about $1,394,000. Fiduciary Family Office LLC acquired a new position in shares of Kinsale Capital Group during the first quarter valued at about $318,000. Benjamin Edwards Inc. grew its holdings in shares of Kinsale Capital Group by 15.6% during the first quarter. Benjamin Edwards Inc. now owns 1,111 shares of the financial services provider's stock valued at $541,000 after buying an additional 150 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Kinsale Capital Group by 12.8% during the first quarter. Covestor Ltd now owns 308 shares of the financial services provider's stock valued at $150,000 after buying an additional 35 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Down 1.1%

Kinsale Capital Group stock traded down $4.8520 during midday trading on Friday, hitting $454.2080. 110,420 shares of the stock were exchanged, compared to its average volume of 206,581. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. Kinsale Capital Group, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79. The business's 50-day moving average price is $466.15 and its 200-day moving average price is $462.99.

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

Kinsale Capital Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KNSL. Truist Financial boosted their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, July 28th. JPMorgan Chase & Co. boosted their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Morgan Stanley boosted their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Compass Point boosted their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Bank of America began coverage on shares of Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 price target on the stock. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $505.80.

Insiders Place Their Bets

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction dated 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 in the company, valued at $3,136,912. The trade was a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by insiders.

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.