IMS Capital Management Buys New Shares in Kinsale Capital Group, Inc. $KNSL

Key Points

• IMS Capital Management acquired 1,752 shares of Kinsale Capital Group, Inc. ($KNSL), valued at approximately $848,000, marking a new investment as per their latest SEC filing.
• Kinsale Capital Group's recent earnings report showed a profit of $4.78 per share, exceeding analysts' estimates, with revenue increasing by 22.2% year-over-year.
• The company has announced a $0.17 quarterly dividend, resulting in an annualized yield of 0.2%, indicating steady returns for shareholders.

IMS Capital Management purchased a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,752 shares of the financial services provider's stock, valued at approximately $848,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KNSL. Key Financial Inc boosted its position in shares of Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after purchasing an additional 41 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Kinsale Capital Group during the first quarter valued at approximately $31,000. NBC Securities Inc. acquired a new position in shares of Kinsale Capital Group during the first quarter worth approximately $35,000. von Borstel & Associates Inc. bought a new position in shares of Kinsale Capital Group in the 1st quarter worth $42,000. Finally, Toth Financial Advisory Corp lifted its holdings in shares of Kinsale Capital Group by 90.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 95 shares of the financial services provider's stock worth $46,000 after purchasing an additional 45 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on KNSL shares. Bank of America started coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price target for the company. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Compass Point raised their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, 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 note on Monday, July 28th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $505.80.

Kinsale Capital Group Trading Up 0.9%

Shares of KNSL stock opened at $427.33 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.56 and a beta of 1.13. Kinsale Capital Group, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79. The company has a 50-day simple moving average of $451.07 and a two-hundred day simple moving average of $462.03.

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

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were 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%. The ex-dividend date was Friday, August 29th. Kinsale Capital Group's payout ratio 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.

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