Kinsale Capital Group, Inc. $KNSL Shares Bought by Ascent Group LLC

Key Points

• Ascent Group LLC increased its holdings in Kinsale Capital Group, Inc. by 22.0%, owning a total of 12,773 shares worth approximately $6.18 million as of its latest SEC filing.
• Kinsale Capital Group's share price is currently $465.89 with a market capitalization of $10.86 billion, and it has a 12-month earnings per share of $4.78, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.17 per share, translating to an annual yield of 0.1%, with a low payout ratio of 3.55%.

Ascent Group LLC raised its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 22.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,773 shares of the financial services provider's stock after buying an additional 2,303 shares during the quarter. Ascent Group LLC owned about 0.05% of Kinsale Capital Group worth $6,181,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Kinsale Capital Group during the 2nd quarter worth $218,000. Abacus Planning Group Inc. acquired a new position in shares of Kinsale Capital Group during the 2nd quarter worth $389,000. J2 Capital Management Inc grew its stake in shares of Kinsale Capital Group by 44.2% during the 2nd quarter. J2 Capital Management Inc now owns 1,412 shares of the financial services provider's stock worth $683,000 after purchasing an additional 433 shares during the period. Precision Wealth Strategies LLC grew its stake in Kinsale Capital Group by 45.7% in the 2nd quarter. Precision Wealth Strategies LLC now owns 1,011 shares of the financial services provider's stock valued at $489,000 after acquiring an additional 317 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Kinsale Capital Group by 0.4% in the 2nd quarter. Truist Financial Corp now owns 13,612 shares of the financial services provider's stock valued at $6,587,000 after acquiring an additional 50 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KNSL has been the topic of a number of research reports. Bank of America initiated coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective on the stock. Compass Point increased their price objective on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Truist Financial increased their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group has an average rating of "Hold" and an average target price of $505.80.

Kinsale Capital Group Price Performance

NYSE:KNSL opened at $465.89 on Friday. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The company's 50-day moving average is $442.80 and its two-hundred day moving average is $460.72. 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 released its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. The company had revenue of $458.70 million for 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 firm's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.75 EPS. Research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 29th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, August 29th. Kinsale Capital Group's dividend payout ratio is 3.55%.

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.

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