Madison Asset Management LLC Acquires Shares of 156,634 Kinsale Capital Group, Inc. (NYSE:KNSL)

Madison Asset Management LLC purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 156,634 shares of the financial services provider's stock, valued at approximately $76,235,000. Madison Asset Management LLC owned 0.67% of Kinsale Capital Group as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in shares of Kinsale Capital Group by 42.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,788 shares of the financial services provider's stock valued at $3,622,000 after acquiring an additional 2,322 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Kinsale Capital Group by 112.0% during the 4th quarter. Teacher Retirement System of Texas now owns 7,029 shares of the financial services provider's stock valued at $3,269,000 after acquiring an additional 3,713 shares during the period. American Century Companies Inc. grew its stake in shares of Kinsale Capital Group by 8.8% during the 4th quarter. American Century Companies Inc. now owns 154,168 shares of the financial services provider's stock valued at $71,709,000 after acquiring an additional 12,490 shares during the period. Sei Investments Co. grew its stake in shares of Kinsale Capital Group by 4.1% during the 4th quarter. Sei Investments Co. now owns 91,042 shares of the financial services provider's stock valued at $42,351,000 after acquiring an additional 3,620 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Kinsale Capital Group during the 4th quarter valued at approximately $2,093,000. 85.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the sale, the executive vice president owned 6,646 shares in the company, valued at approximately $3,136,912. This represents a 17.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KNSL. Truist Financial cut their price objective on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Bank of America began coverage on Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 price objective on the stock. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Morgan Stanley upped their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $491.88.

Kinsale Capital Group Trading Up 0.2%

NYSE:KNSL traded up $0.76 during midday trading on Friday, hitting $477.28. 411,327 shares of the company traded hands, compared to its average volume of 226,473. The firm's fifty day moving average is $474.09 and its 200-day moving average is $461.39. Kinsale Capital Group, Inc. has a 12-month low of $402.22 and a 12-month high of $531.79. The firm has a market capitalization of $11.13 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.76 and a beta of 1.19. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly 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. Kinsale Capital Group had a return on equity of 26.89% and a net margin of 25.92%. The company had revenue of $458.70 million for the quarter, compared to analyst estimates of $436.25 million. During the same quarter in the prior year, the firm posted $3.75 EPS. Kinsale Capital Group's quarterly revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, May 29th. This represents a yield of 0.15%. Kinsale Capital Group's payout ratio is presently 3.55%.

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.