Royal Bank of Canada Purchases 49,223 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• The Royal Bank of Canada increased its holdings in Kinsale Capital Group by 64.3% in the first quarter, owning approximately 0.54% of the company worth $61.2 million.
• Several large investors have also raised their stakes, with GAMMA Investing increasing its holdings by a staggering 59,220.7%, resulting in a total of 309,061 shares worth around $150.4 million.
• Kinsale Capital Group reported a quarterly earnings beat with an EPS of $4.78, exceeding estimates and showing a 22.2% year-over-year revenue increase.

Royal Bank of Canada increased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 64.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,723 shares of the financial services provider's stock after purchasing an additional 49,223 shares during the period. Royal Bank of Canada owned approximately 0.54% of Kinsale Capital Group worth $61,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Key Financial Inc grew its position in Kinsale Capital Group by 315.4% during 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 stake in shares of Kinsale Capital Group in the 1st quarter valued at about $31,000. NBC Securities Inc. bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $35,000. von Borstel & Associates Inc. bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $42,000. Finally, Quarry LP bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $55,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Down 1.0%

Shares of Kinsale Capital Group stock traded down $4.64 on Wednesday, hitting $437.66. The company had a trading volume of 24,145 shares, compared to its average volume of 204,485. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 1.66 and a beta of 1.13. Kinsale Capital Group, Inc. has a 1 year low of $405.00 and a 1 year high of $531.79. The stock has a 50 day moving average of $461.69 and a 200-day moving average of $462.19. 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 (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The company's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.75 earnings per share. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, August 29th. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KNSL shares. Compass Point upped their price target on Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Morgan Stanley upped their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Cantor Fitzgerald upgraded Kinsale Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, BMO Capital Markets upped their target price on Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research report on Tuesday, July 29th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $505.80.

Kinsale Capital Group 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.