Mawer Investment Management Ltd. Takes $17.97 Million Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Mawer Investment Management Ltd. acquired a new stake in Kinsale Capital Group, Inc. buying 36,927 shares valued at approximately $17.97 million, representing about 0.16% ownership.
• Several hedge funds, including LPL Financial LLC and JPMorgan Chase & Co., increased their stakes in Kinsale Capital Group during the fourth quarter, indicating growing institutional interest.
• Kinsale Capital Group reported earnings of $4.78 per share for the last quarter, exceeding analyst expectations, and announced a recent dividend payment of $0.17 per share.

Mawer Investment Management Ltd. purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 36,927 shares of the financial services provider's stock, valued at approximately $17,973,000. Mawer Investment Management Ltd. owned 0.16% of Kinsale Capital Group at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Coldstream Capital Management Inc. raised its position in shares of Kinsale Capital Group by 1.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,469 shares of the financial services provider's stock valued at $683,000 after acquiring an additional 25 shares during the period. Private Trust Co. NA increased its stake in Kinsale Capital Group by 2.1% during the 1st quarter. Private Trust Co. NA now owns 1,288 shares of the financial services provider's stock worth $627,000 after purchasing an additional 27 shares in the last quarter. Strategic Advisors LLC increased its stake in Kinsale Capital Group by 0.6% during the 1st quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider's stock worth $2,568,000 after purchasing an additional 30 shares in the last quarter. Xponance Inc. increased its stake in Kinsale Capital Group by 0.7% during the 1st quarter. Xponance Inc. now owns 4,496 shares of the financial services provider's stock worth $2,188,000 after purchasing an additional 30 shares in the last quarter. Finally, Wealth Alliance LLC increased its stake in Kinsale Capital Group by 6.0% during the 1st quarter. Wealth Alliance LLC now owns 565 shares of the financial services provider's stock worth $275,000 after purchasing an additional 32 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Up 0.8%

NYSE KNSL traded up $3.70 on Friday, reaching $444.39. The company had a trading volume of 124,235 shares, compared to its average volume of 208,839. The stock has a market capitalization of $10.36 billion, a P/E ratio of 23.26, a P/E/G ratio of 1.65 and a beta of 1.19. The company's fifty day moving average is $472.87 and its 200 day moving average is $462.26. Kinsale Capital Group, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%. The firm had revenue of $458.70 million during the quarter, compared to analyst estimates of $436.25 million. The business's revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $3.75 EPS. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a $0.17 dividend. The ex-dividend date was Thursday, May 29th. This represents a yield of 15.0%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Compass Point raised their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research note on Monday. BMO Capital Markets raised their price target on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research note on Tuesday. Finally, Truist Financial raised their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $506.44.

Insider Buying and Selling

In other news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president owned 6,646 shares in the company, valued at approximately $3,136,912. This trade represents a 17.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by corporate insiders.

Kinsale Capital Group Company Profile

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.