Jupiter Topco LLC Acquires Shares of 9,734 Kinsale Capital Group, Inc. $KNSL

Key Points

• Jupiter Topco LLC acquired 9,734 Kinsale Capital Group shares in the second quarter, valued at approximately $3.21 million. Institutional investors collectively own 85.36% of the company.
• Kinsale reported quarterly earnings of $5.54 per share, beating estimates of $5.11, while revenue rose 16.8% year over year to $548.52 million.
• Analyst sentiment remains cautious, with one Buy, seven Hold, and two Sell ratings; the consensus rating is “Reduce” with an average price target of $368.78. The company also declared a $0.25 quarterly dividend, yielding about 0.3%.

Jupiter Topco LLC acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,734 shares of the financial services provider's stock, valued at approximately $3,211,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bayban purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in Kinsale Capital Group in the fourth quarter worth about $29,000. Johnson Financial Group Inc. lifted its holdings in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock worth $32,000 after buying an additional 54 shares during the period. Larson Financial Group LLC boosted its position in Kinsale Capital Group by 225.0% during the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 54 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in Kinsale Capital Group during the 2nd quarter valued at approximately $38,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Christopher R. Tangard acquired 330 shares of the stock in a transaction on Monday, June 8th. The stock was acquired at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the chief accounting officer owned 380 shares of the company's stock, valued at $115,520. This represents a 660.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KNSL shares. Weiss Ratings upgraded Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. Morgan Stanley raised their target price on Kinsale Capital Group from $345.00 to $390.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Wells Fargo & Company lifted their price target on Kinsale Capital Group from $366.00 to $377.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $368.78.

Kinsale Capital Group Trading Up 1.2%

NYSE:KNSL opened at $376.96 on Thursday. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $485.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The company's 50-day simple moving average is $358.67 and its 200 day simple moving average is $344.08. The firm has a market capitalization of $8.59 billion, a P/E ratio of 15.27, a PEG ratio of 1.18 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating analysts' consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same quarter last year, the firm earned $4.78 earnings per share. The business's revenue for the quarter was up 16.8% on a year-over-year basis. As a group, analysts forecast that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio is presently 4.05%.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

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