Inspire Investing LLC Reduces Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Inspire Investing LLC reduced its position in Kinsale Capital Group by 55.9% in the second quarter, selling 5,130 shares and leaving them with 4,050 shares valued at approximately $1.96 million.
• Several brokerage firms have updated their price targets for Kinsale Capital Group, with Morgan Stanley lowering their target to $500 and Truist Financial raising theirs to $560.
• Kinsale Capital Group recently announced a quarterly dividend of $0.17 per share, reflecting a 0.1% yield and a low payout ratio of 3.55%.

Inspire Investing LLC lessened its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 55.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,050 shares of the financial services provider's stock after selling 5,130 shares during the quarter. Inspire Investing LLC's holdings in Kinsale Capital Group were worth $1,960,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KNSL. NBC Securities Inc. purchased a new position in Kinsale Capital Group during the 1st quarter worth approximately $35,000. GAMMA Investing LLC grew its stake in Kinsale Capital Group by 21.9% during the 1st quarter. GAMMA Investing LLC now owns 635 shares of the financial services provider's stock worth $309,000 after buying an additional 114 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Kinsale Capital Group by 39.2% in the 1st quarter. SG Americas Securities LLC now owns 917 shares of the financial services provider's stock valued at $446,000 after purchasing an additional 258 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Kinsale Capital Group by 19.6% in the 1st quarter. Fifth Third Bancorp now owns 592 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 97 shares during the last quarter. Finally, West Branch Capital LLC purchased a new position in shares of Kinsale Capital Group in the 1st quarter valued at approximately $122,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on KNSL. Morgan Stanley lowered their target price on Kinsale Capital Group from $525.00 to $500.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Truist Financial lifted their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets lifted their target price on Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Kinsale Capital Group in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $506.89.

Kinsale Capital Group Stock Down 1.4%

Kinsale Capital Group stock opened at $469.89 on Friday. 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, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The company has a market cap of $10.95 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.72 and a beta of 1.09. The stock's 50 day moving average price is $445.23 and its 200 day moving average price is $460.72.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly 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. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The firm had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. During the same period in the previous year, the business earned $3.75 earnings per share. The company's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 0.1%. Kinsale Capital Group's payout ratio is currently 3.55%.

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.

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