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

Key Points

• Ascent Group LLC increased its stake in Kinsale Capital Group by 29.0%, owning 10,470 shares worth $5,096,000 at the end of the first quarter.
• Several institutional investors, including GAMMA Investing LLC and JPMorgan Chase & Co., significantly boosted their holdings in Kinsale, contributing to 85.36% of the company's stock being owned by institutional investors.
• Kinsale reported a quarterly EPS of $4.78, exceeding analyst expectations, and announced a quarterly dividend of $0.17 per share, reflecting a 0.1% dividend yield.

Ascent Group LLC increased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 29.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,470 shares of the financial services provider's stock after purchasing an additional 2,352 shares during the quarter. Ascent Group LLC's holdings in Kinsale Capital Group were worth $5,096,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of KNSL. GAMMA Investing LLC lifted its holdings in Kinsale Capital Group by 59,220.7% in the first quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock worth $150,423,000 after purchasing an additional 308,540 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Kinsale Capital Group in the first quarter worth about $125,003,000. First Manhattan CO. LLC. raised its position in Kinsale Capital Group by 401.4% in the first quarter. First Manhattan CO. LLC. now owns 201,272 shares of the financial services provider's stock worth $97,961,000 after acquiring an additional 161,132 shares in the last quarter. Madison Asset Management LLC bought a new stake in Kinsale Capital Group in the first quarter worth about $76,235,000. Finally, JPMorgan Chase & Co. raised its position in Kinsale Capital Group by 39.8% in the first quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider's stock worth $224,204,000 after acquiring an additional 131,056 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $455.77 on Monday. 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, Inc. has a fifty-two week low of $405.00 and a fifty-two week high of $531.79. The business's 50-day moving average is $463.06 and its 200-day moving average is $462.16. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.67 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The firm had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. During the same quarter in the prior year, the company posted $3.75 earnings per share. The firm's revenue was up 22.2% on a year-over-year basis. Equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a $0.17 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.1%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.55%.

Analysts Set New Price Targets

KNSL has been the topic of several research reports. Bank of America initiated coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They issued a "buy" rating and a $543.00 price target on the stock. Truist Financial raised their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. raised their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. BMO Capital Markets boosted their price objective on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a report on Tuesday, July 29th. Finally, Compass Point boosted their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.

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