Madison Asset Management LLC Takes Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Madison Asset Management acquired 123,779 Kinsale Capital Group shares worth approximately $40.8 million, representing a 0.54% stake. Institutional investors collectively own 85.36% of the company.
• Kinsale reported strong quarterly results, with earnings of $5.54 per share beating estimates and revenue rising 16.8% year over year to $548.52 million.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating, with one Buy, six Hold, and three Sell ratings, despite a consensus price target of $368.78.

Madison Asset Management LLC acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 123,779 shares of the financial services provider's stock, valued at approximately $40,824,000. Madison Asset Management LLC owned 0.54% of Kinsale Capital Group as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Rockbridge Asset Management LLC bought a new position in Kinsale Capital Group in the 2nd quarter worth about $2,951,000. Prime Capital Management Co Ltd bought a new stake in shares of Kinsale Capital Group during the second quarter valued at approximately $38,092,000. Diversify Advisory Services LLC bought a new stake in shares of Kinsale Capital Group during the second quarter valued at approximately $445,000. BlackRock Inc. acquired a new position in shares of Kinsale Capital Group during the second quarter worth approximately $671,457,000. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Kinsale Capital Group during the second quarter worth approximately $406,000. 85.36% of the stock is currently owned by institutional investors.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher R. Tangard bought 330 shares of Kinsale Capital Group stock in a transaction dated Monday, June 8th. The stock was bought 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 directly owned 380 shares of the company's stock, valued at approximately $115,520. This trade represents a 660.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Salmaan K. Allibhai sold 250 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares of the company's stock, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

KNSL has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Truist Financial reduced their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Weiss Ratings cut Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, June 26th. TD Cowen reissued a "hold" rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $368.78.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL opened at $380.55 on Thursday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.18 and a beta of 0.89. The stock's fifty day simple moving average is $343.87 and its 200 day simple moving average is $345.39. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The business had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same period in the prior year, the business posted $4.78 earnings per share. Kinsale Capital Group's revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

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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