King Luther Capital Management Corp Makes New $1.39 Million Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• King Luther Capital Management Corp has acquired 2,865 shares of Kinsale Capital Group, Inc., valued at approximately $1.39 million, indicating increasing investor interest in the financial services company.
• Institutional investors now own about 85.36% of Kinsale Capital Group's stock, with significant stakes being increased by firms such as GAMMA Investing LLC and JPMorgan Chase & Co.
• Kinsale Capital Group has recently seen a strong quarterly performance, reporting earnings of $4.78 per share and a 22.2% year-over-year revenue increase, along with a recently paid dividend of $0.17.

King Luther Capital Management Corp acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,865 shares of the financial services provider's stock, valued at approximately $1,394,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KNSL. Raymond James Financial Inc. bought a new stake in shares of Kinsale Capital Group in the 4th quarter valued at about $18,323,000. Treasurer of the State of North Carolina raised its stake in Kinsale Capital Group by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 9,680 shares of the financial services provider's stock worth $4,502,000 after buying an additional 55 shares during the period. Townsquare Capital LLC raised its stake in shares of Kinsale Capital Group by 23.1% in the fourth quarter. Townsquare Capital LLC now owns 7,776 shares of the financial services provider's stock worth $3,617,000 after purchasing an additional 1,459 shares during the last quarter. Barclays PLC raised its stake in shares of Kinsale Capital Group by 58.2% in the fourth quarter. Barclays PLC now owns 18,629 shares of the financial services provider's stock worth $8,666,000 after purchasing an additional 6,857 shares during the last quarter. Finally, Mariner LLC raised its stake in shares of Kinsale Capital Group by 3.6% in the fourth quarter. Mariner LLC now owns 3,143 shares of the financial services provider's stock worth $1,462,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 85.36% of the company's stock.

Insider Buying and Selling

In related news, EVP Diane D. Schnupp sold 1,398 shares of the firm'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 approximately $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 can be accessed through this link. Corporate insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Bank of America initiated coverage on Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price objective for the company. Cantor Fitzgerald upgraded Kinsale Capital Group to a "hold" rating in a research report on Wednesday. Truist Financial lifted their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of "Hold" and an average target price of $505.80.

Kinsale Capital Group Stock Down 2.3%

NYSE KNSL traded down $10.21 during mid-day trading on Friday, reaching $443.47. The stock had a trading volume of 245,972 shares, compared to its average volume of 207,694. Kinsale Capital Group, Inc. has a 1 year low of $405.00 and a 1 year high of $531.79. The stock has a market cap of $10.33 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. The company has a fifty day moving average price of $467.69 and a 200 day moving average price of $462.77. 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 announced its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. The business had revenue of $458.70 million during the quarter, compared to analyst estimates of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. 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 earned $3.75 EPS. On average, research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

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.