1832 Asset Management L.P. Lowers Stake in Kinsale Capital Group, Inc. $KNSL

Key Points

• 1832 Asset Management L.P. significantly reduced its holdings in Kinsale Capital Group by 87.6%, bringing its share count down to 2,374 after selling 16,772 shares in the first quarter.
• Kinsale Capital Group's latest quarterly earnings showed an EPS of $4.78, exceeding estimates, with a revenue increase of 22.2% year-over-year.
• The company announced a quarterly dividend of $0.17 per share, with an annual yield of 0.2%, scheduled for payment on September 11th.

1832 Asset Management L.P. trimmed its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 87.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,374 shares of the financial services provider's stock after selling 16,772 shares during the quarter. 1832 Asset Management L.P.'s holdings in Kinsale Capital Group were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of KNSL. GAMMA Investing LLC increased its stake in Kinsale Capital Group by 59,220.7% during the 1st quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after purchasing an additional 308,540 shares in the last quarter. Madison Asset Management LLC bought a new stake in Kinsale Capital Group during the 1st quarter valued at about $76,235,000. JPMorgan Chase & Co. increased its stake in Kinsale Capital Group by 39.8% during the 1st quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider's stock valued at $224,204,000 after purchasing an additional 131,056 shares in the last quarter. Giverny Capital Inc. increased its stake in Kinsale Capital Group by 87.3% during the 1st quarter. Giverny Capital Inc. now owns 169,967 shares of the financial services provider's stock valued at $82,725,000 after purchasing an additional 79,208 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Kinsale Capital Group during the 1st quarter valued at about $38,487,000. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Performance

Shares of KNSL traded up $0.33 on Thursday, reaching $455.41. The company's stock had a trading volume of 94,992 shares, compared to its average volume of 187,447. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a market capitalization of $10.61 billion, a P/E ratio of 23.76, a PEG ratio of 1.67 and a beta of 1.12. The stock's 50 day simple moving average is $465.25 and its two-hundred day simple moving average is $462.18. Kinsale Capital Group, Inc. has a 12-month low of $405.00 and a 12-month high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. The company had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The firm's revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.75 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be issued a $0.17 dividend. 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 dividend payout ratio (DPR) is presently 3.55%.

Insider Activity

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the transaction, the executive vice president owned 6,646 shares of the company's stock, valued at $3,136,912. The trade was a 17.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.50% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on KNSL. Cantor Fitzgerald upgraded shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Bank of America began coverage on shares of 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. BMO Capital Markets raised 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 research note on Tuesday, July 29th. Truist Financial lifted their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, Compass Point lifted their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Kinsale Capital Group has an average rating of "Hold" and an average 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.