Hsbc Holdings PLC Acquires New Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• Hsbc Holdings PLC acquired 30,161 Kinsale Capital Group shares worth approximately $10.0 million, giving it a 0.13% stake. Institutional investors and hedge funds collectively own 85.36% of KNSL.
• Kinsale reported quarterly EPS of $5.54, exceeding estimates of $5.11, while revenue rose 16.8% year over year to $548.52 million. The company also maintains strong profitability, with a 28.49% net margin and 25.54% return on equity.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $368.78 versus the stock’s reported $381.25 price. Kinsale declared a quarterly dividend of $0.25 per share, representing a 0.3% yield.

Hsbc Holdings PLC bought a new position 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 Securities and Exchange Commission (SEC). The fund bought 30,161 shares of the financial services provider's stock, valued at approximately $10,035,000. Hsbc Holdings PLC owned approximately 0.13% of Kinsale Capital Group at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock worth $397,000 after buying an additional 361 shares during the period. EverSource Wealth Advisors LLC grew its stake in Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 43 shares in the last quarter. Brown Advisory Inc. grew its stake in Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock valued at $541,000 after acquiring an additional 82 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Kinsale Capital Group by 136.9% in the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock valued at $531,000 after purchasing an additional 634 shares during the period. Finally, Cerity Partners LLC increased its holdings in shares of Kinsale Capital Group by 45.3% in the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock valued at $2,430,000 after purchasing an additional 1,566 shares during the period. Institutional investors and hedge funds own 85.36% of the company's stock.

Insider Activity at Kinsale Capital Group

In related news, CAO Christopher R. Tangard acquired 330 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, with a total value of $100,320.00. Following the purchase, the chief accounting officer owned 380 shares of the company's stock, valued at approximately $115,520. The trade was a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on KNSL shares. JPMorgan Chase & Co. raised their price target on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Weiss Ratings upgraded shares of Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. Wells Fargo & Company upped their price target on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Finally, TD Cowen reissued a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $368.78.

Kinsale Capital Group Stock Down 0.1%

KNSL stock opened at $381.25 on Friday. The firm has a market cap of $8.68 billion, a PE ratio of 15.45, a PEG ratio of 1.21 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 fifty day simple moving average of $354.41 and a 200 day simple moving average of $344.98. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. During the same period in the prior year, the business posted $4.78 earnings per share. The business's quarterly revenue was up 16.8% on a year-over-year basis. Sell-side 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 declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 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 is Friday, August 28th. Kinsale Capital Group's dividend payout ratio is 4.05%.

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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