Kinsale Capital Group, Inc. $KNSL Stake Lifted by Maren Capital LLC

Key Points

• Maren Capital increased its Kinsale Capital Group stake by 4.2% in the second quarter, bringing its holdings to 281,497 shares worth approximately $92.8 million. Institutional investors collectively own 85.36% of the company.
• Kinsale reported stronger-than-expected quarterly results, with earnings of $5.54 per share versus the $5.11 consensus estimate and revenue of $548.5 million, up 16.8% year over year.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating, with seven Holds, two Sells and one Buy, despite recent price-target increases. Shares opened at $372.86, while the company declared a quarterly dividend of $0.25 per share.

Maren Capital LLC lifted its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 281,497 shares of the financial services provider's stock after acquiring an additional 11,357 shares during the period. Kinsale Capital Group accounts for about 4.3% of Maren Capital LLC's investment portfolio, making the stock its 10th largest holding. Maren Capital LLC owned about 1.24% of Kinsale Capital Group worth $92,840,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bayban purchased a new stake in Kinsale Capital Group in the fourth quarter worth $25,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group during the fourth quarter valued at $29,000. Johnson Financial Group Inc. boosted its holdings in shares of Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock valued at $32,000 after buying an additional 54 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Kinsale Capital Group by 225.0% during the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider's stock valued at $33,000 after buying an additional 54 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Kinsale Capital Group during the 2nd quarter valued at $38,000. 85.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher Tangard purchased 330 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was purchased at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the chief accounting officer directly owned 380 shares of the company's stock, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KNSL. Weiss Ratings upgraded shares of Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. Wells Fargo & Company boosted 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. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Morgan Stanley lifted their target price on shares of 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 equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $368.78.

Kinsale Capital Group Trading Down 2.6%

Shares of NYSE KNSL opened at $372.86 on Friday. The firm's 50 day moving average price is $361.07 and its 200-day moving average price is $344.36. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market cap of $8.49 billion, a PE ratio of 15.11, a P/E/G ratio of 1.18 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same quarter last year, the firm earned $4.78 earnings per share. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 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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