Man Group plc Purchases Shares of 18,570 Kinsale Capital Group, Inc. $KNSL

Key Points

• Man Group plc purchased 18,570 Kinsale Capital Group shares worth approximately $6.1 million, joining other institutions that have increased their holdings. Institutional investors collectively own 85.36% of KNSL.
• Kinsale reported strong quarterly results, with EPS of $5.54 beating estimates of $5.11 and revenue of $548.52 million rising 16.8% year over year. Shares opened at $381.25, near analysts’ average price target of $368.78.
• The company declared a quarterly dividend of $0.25, equivalent to $1.00 annually and a 0.3% yield. Analyst sentiment remains cautious, with a consensus “Reduce” rating based primarily on Hold recommendations.

Man Group plc bought 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 13F filing with the SEC. The fund bought 18,570 shares of the financial services provider's stock, valued at approximately $6,125,000. Man Group plc owned approximately 0.08% of Kinsale Capital Group at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Kinsale Capital Group by 76.2% during the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock valued at $397,000 after acquiring an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock worth $49,000 after acquiring an additional 43 shares in the last quarter. Brown Advisory Inc. lifted its stake in shares of Kinsale Capital Group by 7.9% in the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock worth $541,000 after acquiring an additional 82 shares in the last quarter. Jump Financial LLC boosted its holdings in Kinsale Capital Group by 136.9% in the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock valued at $531,000 after purchasing an additional 634 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in Kinsale Capital Group by 45.3% during the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock valued at $2,430,000 after purchasing an additional 1,566 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Christopher R. Tangard bought 330 shares of the company's stock in a transaction dated Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the transaction, the chief accounting officer directly owned 380 shares in the company, valued at approximately $115,520. The trade was a 660.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.60% of the company's stock.

Kinsale Capital Group Trading Down 0.1%

Shares of NYSE:KNSL opened at $381.25 on Friday. 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 company's 50-day moving average price is $354.41 and its 200 day moving average price is $344.98. The company has a market cap of $8.68 billion, a PE ratio of 15.45, a P/E/G ratio of 1.20 and a beta of 0.89. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $485.00.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. During the same period last year, the company earned $4.78 earnings per share. The company's quarterly revenue was up 16.8% compared to the same quarter last year. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors 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 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 4.05%.

Analyst Upgrades and Downgrades

KNSL has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the stock an "equal weight" rating in a research report on Monday, July 27th. JPMorgan Chase & Co. upped their price target on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Weiss Ratings upgraded shares of Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. TD Cowen reissued a "hold" rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $368.78.

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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