Northern Trust Corp Acquires 6,500 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Northern Trust Corp increased its stake in Kinsale Capital Group by 3.0% during the first quarter, now owning approximately 0.96% of the company valued at $108.6 million.
• Kinsale Capital Group reported an earnings per share (EPS) of $4.78 for the last quarter, exceeding analyst estimates of $4.41, with a revenue of $458.70 million, up 22.2% from the previous year.
• The company declared a quarterly dividend of $0.17, set to be paid on September 11th, yielding an annualized dividend of $0.68 with a payout ratio of 3.55%.

Northern Trust Corp boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,116 shares of the financial services provider's stock after acquiring an additional 6,500 shares during the quarter. Northern Trust Corp owned 0.96% of Kinsale Capital Group worth $108,593,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc increased its stake in Kinsale Capital Group by 315.4% in the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after acquiring an additional 41 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Kinsale Capital Group in the 1st quarter worth about $31,000. NBC Securities Inc. bought a new position in Kinsale Capital Group in the 1st quarter worth about $35,000. von Borstel & Associates Inc. bought a new position in Kinsale Capital Group in the 1st quarter worth about $42,000. Finally, Anderson Financial Strategies LLC bought a new position in Kinsale Capital Group in the 4th quarter worth about $54,000. 85.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KNSL has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Bank of America initiated coverage on Kinsale Capital Group in a report on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective for the company. BMO Capital Markets upped their price objective on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upped their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Compass Point upped their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $505.80.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the sale, the executive vice president directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.50% of the company's stock.

Kinsale Capital Group Trading Up 0.6%

KNSL traded up $2.93 on Friday, hitting $458.42. 172,866 shares of the company were exchanged, compared to its average volume of 184,152. The firm has a fifty day simple moving average of $464.91 and a two-hundred day simple moving average of $462.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. Kinsale Capital Group, Inc. has a 12 month low of $405.00 and a 12 month high of $531.79. The stock has a market capitalization of $10.68 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12.

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

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, August 29th. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.55%.

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.