Jackson Square Partners LLC Acquires 12,581 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Jackson Square Partners LLC increased its stake in Kinsale Capital Group by 30.9%, holding 53,271 shares valued at approximately $25.93 million, which is 3.5% of its investment portfolio.
• Kinsale Capital Group recently reported a quarterly EPS of $4.78, surpassing estimates and showing a 22.2% year-over-year revenue increase to $458.70 million.
• The company declared a dividend of $0.17 per share, marking a yield of 15.0%, with a low payout ratio of only 3.55%.

Jackson Square Partners LLC raised its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 30.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,271 shares of the financial services provider's stock after buying an additional 12,581 shares during the quarter. Kinsale Capital Group comprises about 3.5% of Jackson Square Partners LLC's investment portfolio, making the stock its 3rd biggest position. Jackson Square Partners LLC owned about 0.23% of Kinsale Capital Group worth $25,928,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new stake in Kinsale Capital Group in the 4th quarter worth approximately $3,746,000. O Shaughnessy Asset Management LLC increased its stake in Kinsale Capital Group by 29.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,026 shares of the financial services provider's stock valued at $477,000 after purchasing an additional 236 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Kinsale Capital Group during the fourth quarter worth about $428,000. Envestnet Asset Management Inc. boosted its stake in Kinsale Capital Group by 6.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 165,406 shares of the financial services provider's stock worth $76,935,000 after buying an additional 9,681 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Kinsale Capital Group by 31.4% in the 4th quarter. Federated Hermes Inc. now owns 11,008 shares of the financial services provider's stock valued at $5,120,000 after buying an additional 2,633 shares during the period. Hedge funds and other institutional investors own 85.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KNSL shares. Bank of America began coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They issued a "buy" rating and a $543.00 target price on the stock. BMO Capital Markets boosted their price objective on shares of 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. JPMorgan Chase & Co. increased their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Truist Financial boosted their price target on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, Morgan Stanley lifted their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $506.44.

Kinsale Capital Group Stock Down 0.5%

NYSE:KNSL traded down $2.04 during trading hours on Friday, hitting $437.97. The stock had a trading volume of 126,833 shares, compared to its average volume of 218,968. The company has a market cap of $10.20 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12. The business has a 50 day simple moving average of $469.82 and a two-hundred day simple moving average of $462.55. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

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, beating the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. During the same period in the prior year, the firm earned $3.75 earnings per share. The business's quarterly revenue was up 22.2% compared to the same quarter last year. Analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were paid a $0.17 dividend. The ex-dividend date was Thursday, May 29th. This represents a dividend yield of 15.0%. Kinsale Capital Group's payout ratio is 3.55%.

Insider Buying and Selling

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction that occurred 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. This trade represents a 17.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.50% of the company's stock.

About Kinsale Capital Group

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.