Louisiana State Employees Retirement System Takes Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Louisiana State Employees Retirement System opened a new position in Kinsale Capital Group, buying 6,400 shares worth about $2.19 million in the first quarter.
• Kinsale reported better-than-expected Q1 earnings, posting $5.11 EPS versus the $4.70 consensus and revenue of $466.71 million, while still seeing revenue slip 0.5% year over year.
• Analyst sentiment has turned more cautious: several firms cut ratings or price targets, and MarketBeat says Kinsale now carries a consensus rating of “Reduce” with a consensus price target of $374.90.

Louisiana State Employees Retirement System purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,400 shares of the financial services provider's stock, valued at approximately $2,187,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Kinsale Capital Group during the 4th quarter valued at $25,000. Bayban purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth $25,000. eCIO Inc. purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth $29,000. International Assets Investment Management LLC bought a new position in shares of Kinsale Capital Group during the fourth quarter valued at $29,000. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 54 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $331.06 on Tuesday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $315.01 and a two-hundred day simple moving average of $355.81. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.06 and a beta of 0.91. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $512.76.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $4.70 by $0.41. The firm had revenue of $466.71 million for the quarter, compared to analysts' expectations of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The business's quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.71 EPS. On average, analysts expect that Kinsale Capital Group, Inc. will post 20.65 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 4.40%.

Analyst Ratings Changes

Several research firms recently commented on KNSL. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Wells Fargo & Company downgraded shares of Kinsale Capital Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $420.00 to $357.00 in a report on Monday, April 27th. Truist Financial dropped their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Weiss Ratings cut shares of Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Finally, Cantor Fitzgerald dropped their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $374.90.

Insider Buying and Selling at Kinsale Capital Group

In other news, CAO Christopher R. Tangard purchased 330 shares of the company's stock in a transaction on Monday, June 8th. The stock was acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the chief accounting officer directly owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares of the company's stock, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.60% of the company's stock.

About Kinsale Capital Group

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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