Kinsale Capital Group, Inc. $KNSL Holdings Reduced by Royal London Asset Management Ltd.

Key Points

• Royal London Asset Management cut its Kinsale Capital Group stake by 47% in the second quarter, selling 38,762 shares and retaining 43,680 shares worth approximately $14.4 million. Institutional investors and hedge funds own 85.36% of KNSL.
• Kinsale reported strong quarterly results, with EPS of $5.54 beating estimates of $5.11 and revenue rising 16.8% year over year to $548.52 million. Analysts’ consensus rating remains “Reduce,” with an average price target of $368.78.
• The stock opened at $381.25, while insider ownership stands at 5.6%; Chief Accounting Officer Christopher Tangard also purchased $100,320 worth of shares. Kinsale declared a quarterly dividend of $0.25 per share, equivalent to a 0.3% yield.

Royal London Asset Management Ltd. lessened its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 47.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,680 shares of the financial services provider's stock after selling 38,762 shares during the period. Royal London Asset Management Ltd. owned 0.19% of Kinsale Capital Group worth $14,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Kinsale Capital Group by 76.2% during the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock worth $397,000 after buying an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 43 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Kinsale Capital Group by 7.9% during the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock valued at $541,000 after acquiring an additional 82 shares during the period. Jump Financial LLC increased its stake in shares of Kinsale Capital Group by 136.9% during the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock valued at $531,000 after acquiring an additional 634 shares during the period. Finally, Cerity Partners LLC raised its holdings in Kinsale Capital Group by 45.3% during the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock worth $2,430,000 after purchasing an additional 1,566 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KNSL. TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Weiss Ratings raised Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. JPMorgan Chase & Co. raised their target price on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Finally, Morgan Stanley upped their price target on Kinsale Capital Group from $345.00 to $390.00 and gave the company an "equal weight" rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $368.78.

Insider Activity

In other news, CAO Christopher R. Tangard purchased 330 shares of Kinsale Capital Group stock in a transaction on Monday, June 8th. The shares were purchased at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the chief accounting officer directly owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is owned by company insiders.

Kinsale Capital Group Trading Up 0.2%

NYSE:KNSL opened at $381.25 on Monday. The company has a market capitalization of $8.68 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.20 and a beta of 0.89. The stock's 50 day moving average price is $354.41 and its 200 day moving average price is $344.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $485.00.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping 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 firm had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. During the same quarter in the previous year, the business earned $4.78 EPS. The business's revenue was up 16.8% on a year-over-year basis. On average, research 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 disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, August 28th. Kinsale Capital Group's dividend payout ratio is currently 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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