Premier Fund Managers Ltd Has $70.67 Million Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Premier Fund Managers Ltd has increased its position in Kinsale Capital Group by 40.0%, owning approximately $70.67 million worth of shares, making it the fund's 7th largest position.
• Insider selling activity was noted as EVP Diane D. Schnupp sold 1,398 shares for a total value of $659,856, reducing her position by 17.38%.
• Kinsale Capital Group reported earnings of $4.78 EPS for the last quarter, exceeding analysts' expectations, with a revenue increase of 22.2% compared to the same quarter last year.

Premier Fund Managers Ltd increased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 40.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,656 shares of the financial services provider's stock after buying an additional 41,872 shares during the quarter. Kinsale Capital Group comprises 2.6% of Premier Fund Managers Ltd's investment portfolio, making the stock its 7th biggest holding. Premier Fund Managers Ltd owned about 0.63% of Kinsale Capital Group worth $70,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KNSL. LPL Financial LLC boosted its stake in shares of Kinsale Capital Group by 29.4% in the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock valued at $9,310,000 after buying an additional 4,644 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Kinsale Capital Group by 6.0% in the fourth quarter. JPMorgan Chase & Co. now owns 329,595 shares of the financial services provider's stock valued at $153,305,000 after purchasing an additional 18,661 shares during the last quarter. Norges Bank purchased a new stake in Kinsale Capital Group during the fourth quarter valued at about $89,200,000. Nomura Asset Management Co. Ltd. grew its position in Kinsale Capital Group by 169.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,563 shares of the financial services provider's stock valued at $727,000 after acquiring an additional 984 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in shares of Kinsale Capital Group by 4.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,017 shares of the financial services provider's stock worth $1,403,000 after buying an additional 132 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was 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 represents a 17.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. 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 report on Monday, May 19th. BMO Capital Markets boosted their price target on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research note on Tuesday. Truist Financial boosted their price target on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday. Bank of America started coverage on Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 price target on the stock. Finally, Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group has an average rating of "Hold" and an average target price of $506.44.

Kinsale Capital Group Stock Up 0.7%

NYSE KNSL traded up $2.97 on Friday, hitting $443.66. 132,363 shares of the stock traded hands, compared to its average volume of 208,909. The stock has a 50-day moving average of $472.87 and a 200 day moving average of $462.26. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79. The company has a market capitalization of $10.34 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $436.25 million. During the same quarter in the prior year, the firm posted $3.75 earnings per share. Kinsale Capital Group's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given a dividend of $0.17 per share. This represents a dividend yield of 15.0%. The ex-dividend date was Thursday, May 29th. Kinsale Capital Group's dividend payout ratio is presently 3.55%.

About Kinsale Capital Group

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.