Hsbc Holdings PLC Invests $10.04 Million in Kinsale Capital Group, Inc. $KNSL

Key Points

• HSBC Holdings acquired a new $10.04 million stake in Kinsale Capital Group during the second quarter, purchasing 30,161 shares and holding approximately 0.13% of the insurer.
• Kinsale reported strong quarterly results, with EPS of $5.54 beating estimates by $0.43 and revenue of $548.52 million rising 16.8% year over year. Institutional investors own 85.36% of the company.
• The company declared a quarterly dividend of $0.25, equivalent to an annualized $1.00 and a 0.3% yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $368.78.

Hsbc Holdings PLC bought a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,161 shares of the financial services provider's stock, valued at approximately $10,035,000. Hsbc Holdings PLC owned 0.13% of Kinsale Capital Group at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bayban purchased a new position in Kinsale Capital Group in the 4th quarter worth about $25,000. International Assets Investment Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter valued at about $29,000. Johnson Financial Group Inc. grew its stake in Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock worth $32,000 after acquiring an additional 54 shares in the last quarter. Larson Financial Group LLC grew its stake in Kinsale Capital Group by 225.0% in the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider's stock worth $33,000 after acquiring an additional 54 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Kinsale Capital Group in the 2nd quarter worth about $38,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $359.49 on Thursday. 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 company has a 50 day moving average price of $362.92 and a 200-day moving average price of $343.95. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $485.00. The stock has a market capitalization of $8.19 billion, a PE ratio of 14.57, a PEG ratio of 1.16 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. Kinsale Capital Group's revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company posted $4.78 earnings per share. Equities analysts predict that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

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 issued a $0.25 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 4.05%.

Wall Street Analysts Forecast Growth

KNSL has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Weiss Ratings upgraded Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Morgan Stanley lifted their target price on Kinsale Capital Group from $345.00 to $390.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. Finally, TD Cowen reiterated a "hold" rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Kinsale Capital Group currently has an average rating of "Reduce" and an average price target of $368.78.

Kinsale Capital Group Company 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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