Nuveen LLC Takes Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Nuveen LLC made a new investment of approximately $38.49 million in Kinsale Capital Group, acquiring 79,075 shares, which represented 0.34% ownership in the company.
• Kinsale Capital Group reported $4.78 earnings per share for the last quarter, surpassing analysts' expectations of $4.41, and showing a revenue increase of 22.2% year-over-year.
• The company recently declared a dividend of $0.17 per share with a yield of 15.0%, paid on June 12, reflecting a dividend payout ratio of 3.55%.

Nuveen LLC acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 79,075 shares of the financial services provider's stock, valued at approximately $38,487,000. Nuveen LLC owned about 0.34% of Kinsale Capital Group as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KNSL. Raymond James Financial Inc. bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $18,323,000. Barclays PLC boosted its stake in shares of Kinsale Capital Group by 58.2% in the 4th quarter. Barclays PLC now owns 18,629 shares of the financial services provider's stock valued at $8,666,000 after purchasing an additional 6,857 shares during the last quarter. Mariner LLC boosted its stake in shares of Kinsale Capital Group by 3.6% in the 4th quarter. Mariner LLC now owns 3,143 shares of the financial services provider's stock valued at $1,462,000 after purchasing an additional 110 shares during the last quarter. Jump Financial LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $3,454,000. Finally, PEAK6 LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $212,000. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Down 1.9%

KNSL stock traded down $8.9060 during mid-day trading on Thursday, hitting $459.3040. 165,903 shares of the company were exchanged, compared to its average volume of 212,984. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $10.70 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.72 and a beta of 1.12. The firm's 50 day simple moving average is $466.56 and its 200 day simple moving average is $463.17. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79.

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

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.1%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.55%.

Insider Buying and Selling

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction 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 SEC, which is accessible through this link. Company insiders own 5.50% of the company's stock.

Analyst Ratings Changes

KNSL has been the topic of several recent research reports. 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. Bank of America began coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective 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, July 28th. Compass Point lifted their price objective 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, July 28th. Finally, Morgan Stanley lifted their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $505.80.

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.