Kayne Anderson Rudnick Investment Management LLC Takes Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Kayne Anderson Rudnick Investment Management LLC has acquired 256,832 shares of Kinsale Capital Group, valued at approximately $125 million, representing about 1.10% of the company.
• Kinsale Capital Group recently announced a dividend of $0.17 per share, with a payout ratio of 3.55%, and will be distributed to investors of record on August 29th.
• The company's latest earnings report showed an earnings per share of $4.78, exceeding analysts' expectations, with a revenue increase of 22.2% year-over-year.

Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 256,832 shares of the financial services provider's stock, valued at approximately $125,003,000. Kayne Anderson Rudnick Investment Management LLC owned approximately 1.10% of Kinsale Capital Group as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in KNSL. Key Financial Inc grew its holdings in shares of Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after acquiring an additional 41 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Kinsale Capital Group in the 1st quarter worth $31,000. NBC Securities Inc. bought a new stake in shares of Kinsale Capital Group during the 1st quarter valued at $35,000. von Borstel & Associates Inc. bought a new position in shares of Kinsale Capital Group during the 1st quarter valued at approximately $42,000. Finally, Anderson Financial Strategies LLC purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Performance

Shares of KNSL stock traded up $0.33 during trading hours on Thursday, hitting $455.41. The stock had a trading volume of 94,969 shares, compared to its average volume of 206,390. The firm has a market capitalization of $10.61 billion, a PE ratio of 23.76, a PEG ratio of 1.66 and a beta of 1.12. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79. The stock's 50 day moving average is $465.38 and its 200 day moving average is $462.39. 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 (NYSE:KNSL - Get Free Report) last issued its quarterly 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 return on equity of 25.93% and a net margin of 25.92%.The company had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group's revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.75 EPS. As a group, research 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, August 29th. Kinsale Capital Group's payout ratio is 3.55%.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 1,398 shares of the company'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 transaction, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KNSL has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Truist Financial increased their price target 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. JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Compass Point boosted their price target on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, BMO Capital Markets upped 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 report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $505.80.

Kinsale Capital Group 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.