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

Other institutional investors also recently modified their holdings of the company. Key Financial Inc grew its position 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 buying an additional 41 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Kinsale Capital Group during the 1st quarter worth about $31,000. NBC Securities Inc. bought a new position in shares of Kinsale Capital Group during the 1st quarter valued at about $35,000. von Borstel & Associates Inc. bought a new position in shares of Kinsale Capital Group during the 1st quarter valued at about $42,000. Finally, Anderson Financial Strategies LLC bought a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $54,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

Shares of KNSL stock traded up $4.34 during trading on Friday, reaching $459.66. 46,469 shares of the company's stock were exchanged, compared to its average volume of 205,399. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $10.71 billion, a PE ratio of 23.98, a PEG ratio of 1.67 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 firm's fifty day moving average price is $465.25 and its 200-day moving average price is $462.18.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted 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 business had revenue of $458.70 million for the quarter, compared to analyst estimates 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 revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.75 EPS. As a group, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.1%. Kinsale Capital Group's payout ratio is presently 3.55%.

Insider Buying and Selling

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the transaction, the executive vice president directly owned 6,646 shares of the company's stock, valued at $3,136,912. This represents a 17.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KNSL has been the topic of several recent analyst reports. BMO Capital Markets lifted their price objective on Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. 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 report on Monday, May 19th. Compass Point lifted their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Bank of America initiated coverage on Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of "Hold" and a consensus price target of $505.80.

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.