JPMorgan Chase & Co. Buys 131,056 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• JPMorgan Chase & Co. increased its holdings in Kinsale Capital Group by 39.8% during the first quarter, acquiring a total of 460,651 shares valued at approximately $224.2 million.
• Analysts have provided varied ratings for Kinsale Capital Group, with target prices ranging from $490.00 to $543.00, and a consensus rating of "Hold".
• During the latest quarter, Kinsale Capital Group reported an earnings per share of $4.78, exceeding the consensus estimate of $4.41, alongside a revenue increase of 22.2% year over year.

JPMorgan Chase & Co. lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 39.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 460,651 shares of the financial services provider's stock after acquiring an additional 131,056 shares during the period. JPMorgan Chase & Co. owned approximately 1.98% of Kinsale Capital Group worth $224,204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Kinsale Capital Group by 10.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock worth $1,272,000 after buying an additional 254 shares in the last quarter. Bridges Investment Management Inc. boosted its stake in Kinsale Capital Group by 111.5% during the first quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock worth $2,446,000 after buying an additional 2,650 shares in the last quarter. M&T Bank Corp boosted its stake in Kinsale Capital Group by 43.4% during the first quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock worth $1,787,000 after buying an additional 1,111 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Kinsale Capital Group by 43.9% in the 1st quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after purchasing an additional 24,681 shares in the last quarter. Finally, Moody Aldrich Partners LLC acquired a new stake in shares of Kinsale Capital Group in the 1st quarter valued at $270,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Trading Down 2.3%

NYSE:KNSL traded down $10.21 on Friday, hitting $443.47. 245,972 shares of the stock were exchanged, compared to its average volume of 207,819. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 1.67 and a beta of 1.12. Kinsale Capital Group, Inc. has a 52 week low of $405.00 and a 52 week high of $531.79. 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's 50-day moving average price is $467.02 and its 200 day moving average price is $462.77.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.37. The firm had revenue of $458.70 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.75 EPS. On average, equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were issued a dividend of $0.17 per share. This represents a yield of 15.0%. The ex-dividend date of this dividend was Thursday, May 29th. Kinsale Capital Group's payout ratio is currently 3.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KNSL shares. Truist Financial boosted their target price on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Cantor Fitzgerald upgraded shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday. Morgan Stanley boosted their target price on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Compass Point boosted their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $505.80.

Insiders Place Their Bets

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction dated 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 directly owned 6,646 shares of the company's stock, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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.