The Manufacturers Life Insurance Company Buys 62,088 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• The Manufacturers Life Insurance Company significantly increased its stake in Kinsale Capital Group by 337.5%, now holding 80,482 shares valued at approximately $39.17 million.
• Kinsale Capital Group reported $4.78 EPS in its latest earnings, surpassing the consensus estimate of $4.41, with a net margin of 25.92% and revenue of $458.70 million for the quarter.
• The company recently declared a quarterly dividend of $0.17 per share, with an annualized dividend yield of 0.1%, to be paid on September 11th.

The Manufacturers Life Insurance Company boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 337.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,482 shares of the financial services provider's stock after buying an additional 62,088 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.35% of Kinsale Capital Group worth $39,171,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in Kinsale Capital Group by 10.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock valued at $1,272,000 after buying an additional 254 shares during the last quarter. Bridges Investment Management Inc. increased its position in Kinsale Capital Group by 111.5% during the 1st quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock valued at $2,446,000 after purchasing an additional 2,650 shares during the period. M&T Bank Corp increased its position in Kinsale Capital Group by 43.4% during the 1st quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock valued at $1,787,000 after purchasing an additional 1,111 shares during the period. Artemis Investment Management LLP increased its position in Kinsale Capital Group by 43.9% during the 1st quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after purchasing an additional 24,681 shares during the period. Finally, Moody Aldrich Partners LLC acquired a new stake in Kinsale Capital Group during the 1st quarter valued at approximately $270,000. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Down 0.9%

NYSE KNSL traded down $3.94 during mid-day trading on Friday, hitting $455.77. The company's stock had a trading volume of 140,433 shares, compared to its average volume of 205,152. The company's 50 day simple moving average is $463.41 and its 200 day simple moving average is $461.79. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79. 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 firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.66 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. During the same quarter last year, the firm posted $3.75 EPS. Kinsale Capital Group's revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KNSL. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Truist Financial increased their target price on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Compass Point increased 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 report on Monday, July 28th. JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Bank of America started coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 target price for the company. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Kinsale Capital Group has an average rating of "Hold" and a consensus target price of $505.80.

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.