Kinsale Capital Group, Inc. $KNSL Shares Purchased by Giverny Capital Inc.

Key Points

• Giverny Capital increased its Kinsale Capital Group stake by 10% in the second quarter, purchasing 21,789 additional shares to own 240,731 shares valued at approximately $79.4 million. Institutional investors collectively hold 85.36% of KNSL.
• Kinsale reported strong quarterly results, with EPS of $5.54 beating estimates of $5.11 and revenue of $548.52 million surpassing the $445.13 million consensus estimate; revenue rose 16.8% year over year.
• Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $368.78, despite recent target increases. KNSL traded at $372.86, while the company declared a quarterly dividend of $0.25 per share.

Giverny Capital Inc. lifted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 10.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 240,731 shares of the financial services provider's stock after acquiring an additional 21,789 shares during the period. Kinsale Capital Group accounts for 2.7% of Giverny Capital Inc.'s portfolio, making the stock its 16th biggest holding. Giverny Capital Inc. owned about 1.06% of Kinsale Capital Group worth $79,395,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in Kinsale Capital Group by 76.2% in the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock valued at $397,000 after acquiring an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock worth $49,000 after acquiring an additional 43 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Kinsale Capital Group by 7.9% in the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock worth $541,000 after acquiring an additional 82 shares during the last quarter. Jump Financial LLC lifted its holdings 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 purchasing an additional 634 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Kinsale Capital Group by 45.3% in the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock valued at $2,430,000 after purchasing an additional 1,566 shares during the period. Institutional investors own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KNSL. Weiss Ratings upgraded Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. Morgan Stanley lifted their target price on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Wells Fargo & Company raised their price objective on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $368.78.

Kinsale Capital Group Stock Performance

KNSL stock opened at $372.86 on Monday. The firm has a 50 day simple moving average of $361.07 and a 200 day simple moving average of $344.17. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $485.00. The stock has a market cap of $8.49 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.18 and a beta of 0.89. 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 (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The company's revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.78 EPS. Research analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 28th. Kinsale Capital Group's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding KNSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.