Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Purchased by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC has increased its stake in Kinsale Capital Group by 0.6%, making it the firm’s second largest holding with a value of approximately $197 million.
• Analysts have raised their target prices on Kinsale Capital Group, with Morgan Stanley adjusting it from $490.00 to $525.00 and Truist Financial from $500.00 to $560.00, reflecting positive sentiment towards the stock.
• Kinsale Capital Group reported $4.78 earnings per share for its last quarter, surpassing estimates and indicating a 22.2% year-over-year revenue growth.

Geneva Capital Management LLC lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 405,363 shares of the financial services provider's stock after purchasing an additional 2,449 shares during the quarter. Kinsale Capital Group comprises about 3.7% of Geneva Capital Management LLC's holdings, making the stock its 2nd largest holding. Geneva Capital Management LLC owned 1.74% of Kinsale Capital Group worth $197,294,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KNSL. Key Financial Inc increased its stake 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 last quarter. N.E.W. Advisory Services LLC acquired a new stake in Kinsale Capital Group during the first quarter worth $31,000. NBC Securities Inc. acquired a new stake in Kinsale Capital Group during the first quarter worth $35,000. von Borstel & Associates Inc. acquired a new stake in Kinsale Capital Group during the first quarter worth $42,000. Finally, Anderson Financial Strategies LLC acquired a new stake in Kinsale Capital Group during the fourth quarter worth $54,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on KNSL shares. Morgan Stanley raised their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Truist Financial raised their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets raised their price target on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, JPMorgan Chase & Co. raised their price target on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $506.44.

Kinsale Capital Group Trading Up 0.8%

NYSE:KNSL opened at $444.39 on Monday. The firm has a market cap of $10.36 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. The stock has a fifty day moving average price of $472.48 and a 200 day moving average price of $462.73. Kinsale Capital Group, Inc. has a 12-month low of $405.00 and a 12-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.

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

Kinsale Capital Group Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a $0.17 dividend. The ex-dividend date was Thursday, May 29th. This represents a yield of 15.0%. Kinsale Capital Group's dividend payout ratio (DPR) is 3.55%.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction dated Thursday, June 5th. The stock was 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 of the company's stock, valued at $3,136,912. The trade was a 17.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company 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.

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