Invesco Ltd. Has $166.26 Million Stake in Kinsale Capital Group, Inc. $KNSL

Key Points

• Invesco Ltd. reduced its stake in Kinsale Capital Group by 3.0%, selling 10,738 shares and now owns 341,590 shares valued at approximately $166 million.
• Kinsale Capital's recent earnings report showed a $4.78 EPS, exceeding estimates by $0.37, with a year-over-year revenue increase of 22.2%.
• The company declared a $0.17 per share dividend with a 15% yield, reflecting a low payout ratio of 3.55%.

Invesco Ltd. decreased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 341,590 shares of the financial services provider's stock after selling 10,738 shares during the quarter. Invesco Ltd. owned 1.47% of Kinsale Capital Group worth $166,255,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Kinsale Capital Group in the fourth quarter valued at $18,323,000. Barclays PLC lifted its stake in Kinsale Capital Group by 58.2% in the 4th quarter. Barclays PLC now owns 18,629 shares of the financial services provider's stock worth $8,666,000 after acquiring an additional 6,857 shares in the last quarter. Mariner LLC increased its position in Kinsale Capital Group by 3.6% in the 4th quarter. Mariner LLC now owns 3,143 shares of the financial services provider's stock worth $1,462,000 after purchasing an additional 110 shares during the last quarter. Jump Financial LLC acquired a new position in Kinsale Capital Group in the 4th quarter worth about $3,454,000. Finally, PEAK6 LLC acquired a new position in Kinsale Capital Group in the 4th quarter worth about $212,000. Institutional investors own 85.36% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KNSL. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Compass Point lifted their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Cantor Fitzgerald raised Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Truist Financial raised their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, BMO Capital Markets raised their target price on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Kinsale Capital Group presently has a consensus rating of "Hold" and a consensus target price of $505.80.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president 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 SEC, which is available through this link. 5.50% of the stock is currently owned by insiders.

Kinsale Capital Group Price Performance

KNSL traded up $6.6750 during trading on Tuesday, hitting $452.6750. The company's stock had a trading volume of 28,918 shares, compared to its average volume of 206,374. The firm's 50 day moving average price is $466.66 and its two-hundred day moving average price is $463.08. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 12 month low of $405.00 and a 12 month high of $531.79. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12.

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, topping analysts' consensus estimates of $4.41 by $0.37. The company had revenue of $458.70 million during 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 firm's quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.75 earnings per share. Sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. 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.