Kinsale Capital Group, Inc. (NYSE:KNSL) Holdings Lifted by LPL Financial LLC

Key Points

• LPL Financial LLC has increased its stake in Kinsale Capital Group by 11.0%, now holding approximately $10.72 million worth of shares.
• Kinsale Capital Group reported a profit of $4.78 EPS for the recent quarter, exceeding expectations, with revenue growth of 22.2% year-over-year at $458.70 million.
• The company announced a $0.17 dividend with a yield of 15.0%, reflecting confidence in its financial stability.

LPL Financial LLC increased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,664 shares of the financial services provider's stock after purchasing an additional 2,249 shares during the quarter. LPL Financial LLC owned approximately 0.10% of Kinsale Capital Group worth $10,720,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Key Financial Inc grew its holdings in Kinsale Capital Group by 315.4% during the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after acquiring an additional 41 shares during the period. NBC Securities Inc. acquired a new stake in Kinsale Capital Group in the first quarter valued at $35,000. von Borstel & Associates Inc. acquired a new stake in Kinsale Capital Group in the first quarter valued at $42,000. Anderson Financial Strategies LLC acquired a new stake in Kinsale Capital Group in the fourth quarter valued at $54,000. Finally, SBI Securities Co. Ltd. grew its holdings in Kinsale Capital Group by 39.4% in the first quarter. SBI Securities Co. Ltd. now owns 138 shares of the financial services provider's stock valued at $67,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

KNSL has been the topic of several research reports. Truist Financial upped their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a report on Monday, July 28th. Bank of America began coverage on Kinsale Capital Group in a research report on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective on the stock. Compass Point upped their price objective on 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. upped their price objective on 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, Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $506.44.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded down $0.22 during midday trading on Tuesday, reaching $436.98. 182,432 shares of the company traded hands, compared to its average volume of 206,779. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The company has a fifty day moving average price of $469.11 and a 200 day moving average price of $462.95.

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

Kinsale Capital Group Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a $0.17 dividend. This represents a dividend yield of 15.0%. The ex-dividend date of this dividend was Thursday, May 29th. Kinsale Capital Group's payout ratio is currently 3.55%.

Insider Activity at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the sale, the executive vice president owned 6,646 shares of the company's stock, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.50% of the company's stock.

About Kinsale Capital Group

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.