Kinsale Capital Group, Inc. $KNSL Shares Acquired by Maren Capital LLC

Key Points

• Maren Capital LLC boosted its stake in Kinsale Capital Group by 7.4% during Q1, now holding 162,089 shares worth approximately $78.89 million.
• Kinsale Capital reported a quarterly earnings per share (EPS) of $4.78, exceeding estimates by $0.37, with revenues at $458.70 million, representing a year-on-year growth of 22.2%.
• The company recently declared a quarterly dividend of $0.17, contributing to an annualized yield of 0.1%, with a payout ratio of 3.55%.

Maren Capital LLC increased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,089 shares of the financial services provider's stock after buying an additional 11,189 shares during the period. Kinsale Capital Group comprises approximately 5.4% of Maren Capital LLC's holdings, making the stock its 9th biggest holding. Maren Capital LLC owned about 0.70% of Kinsale Capital Group worth $78,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GAMMA Investing LLC increased 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 valued at $150,423,000 after buying an additional 308,540 shares during the last quarter. Madison Asset Management LLC acquired a new position in shares of Kinsale Capital Group during the first quarter worth approximately $76,235,000. JPMorgan Chase & Co. boosted its position in shares of Kinsale Capital Group by 39.8% during the first quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider's stock worth $224,204,000 after buying an additional 131,056 shares during the period. Giverny Capital Inc. boosted its position in shares of Kinsale Capital Group by 87.3% during the first quarter. Giverny Capital Inc. now owns 169,967 shares of the financial services provider's stock worth $82,725,000 after buying an additional 79,208 shares during the period. Finally, Nuveen LLC bought a new stake in Kinsale Capital Group during the first quarter worth approximately $38,487,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KNSL has been the topic of several recent analyst reports. Cantor Fitzgerald raised Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Compass Point boosted their target price 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. Truist Financial boosted their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a report on Monday, July 28th. JPMorgan Chase & Co. boosted their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Bank of America began coverage on shares of Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 price target on the stock. 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.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $505.80.

Kinsale Capital Group Stock Up 0.0%

NYSE:KNSL traded up $0.23 during trading hours on Thursday, reaching $455.31. The company's stock had a trading volume of 34,090 shares, compared to its average volume of 206,003. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12. Kinsale Capital Group, Inc. has a one year low of $405.00 and a one year high of $531.79. The business's 50-day moving average is $465.38 and its 200-day moving average is $462.39. 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 (NYSE:KNSL - Get Free Report) last issued 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 firm had revenue of $458.70 million during the quarter, compared to analysts' expectations of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. Kinsale Capital Group's revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.75 earnings per share. Equities research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

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

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president directly owned 6,646 shares in the company, valued at $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is owned by company insiders.

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.