Legal & General Group Plc Invests $9.46 Million in Kinsale Capital Group, Inc. $KNSL

Key Points

• Legal & General Group purchased 28,690 Kinsale Capital shares worth approximately $9.46 million, acquiring a 0.13% stake. Institutional investors and hedge funds collectively own 85.36% of the company.
• Kinsale reported quarterly EPS of $5.54, beating estimates of $5.11, while revenue reached $548.52 million—up 16.8% year over year and well above expectations.
• The company declared a quarterly dividend of $0.25, or $1.00 annually, representing a 0.3% yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $368.78.

Legal & General Group Plc purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 28,690 shares of the financial services provider's stock, valued at approximately $9,462,000. Legal & General Group Plc owned 0.13% of Kinsale Capital Group as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new position in Kinsale Capital Group in the second quarter valued at approximately $5,221,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Kinsale Capital Group during the second quarter worth $7,525,000. L2 Asset Management LLC purchased a new stake in Kinsale Capital Group in the second quarter valued at $1,575,000. Dearborn Partners LLC purchased a new stake in Kinsale Capital Group in the second quarter valued at $352,000. Finally, Cibc World Market Inc. acquired a new position in shares of Kinsale Capital Group in the 2nd quarter valued at $465,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Price Performance

KNSL stock opened at $372.10 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $8.48 billion, a PE ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 0.89. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $485.00. The business's fifty day moving average price is $357.34 and its 200 day moving average price is $344.25.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.43. The firm had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.Kinsale Capital Group's revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.78 EPS. On average, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 4.05%.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher R. Tangard acquired 330 shares of the company's stock in a transaction that occurred on 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 acquisition, the chief accounting officer owned 380 shares of the company's stock, valued at approximately $115,520. This trade represents a 660.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KNSL. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Weiss Ratings raised shares of Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. lifted their price target on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Finally, Morgan Stanley boosted their price target on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $368.78.

Kinsale Capital Group Company 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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