Stephens Investment Management Group LLC Raises Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Stephens Investment Management Group increased its Kinsale Capital Group stake by 37.7% in the fourth quarter, buying 56,916 additional shares and bringing its holdings to 208,075 shares valued at about $81.4 million.
• Several other institutional investors also boosted or initiated positions, and overall hedge funds and institutions own 85.36% of Kinsale’s stock.
• Kinsale reported stronger-than-expected quarterly results with EPS of $5.11 and revenue of $466.71 million, while analysts currently rate the stock a Hold with an average target price of $392.

Stephens Investment Management Group LLC grew its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 37.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 208,075 shares of the financial services provider's stock after purchasing an additional 56,916 shares during the quarter. Kinsale Capital Group makes up about 1.1% of Stephens Investment Management Group LLC's investment portfolio, making the stock its 27th biggest position. Stephens Investment Management Group LLC owned 0.89% of Kinsale Capital Group worth $81,382,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Hills Bank & Trust Co lifted its stake in shares of Kinsale Capital Group by 17.5% during the 4th quarter. Hills Bank & Trust Co now owns 1,073 shares of the financial services provider's stock worth $420,000 after purchasing an additional 160 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Kinsale Capital Group by 676.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,815 shares of the financial services provider's stock worth $2,274,000 after purchasing an additional 5,066 shares during the period. Isthmus Partners LLC purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth $8,110,000. Thrivent Financial for Lutherans lifted its stake in shares of Kinsale Capital Group by 12.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 21,678 shares of the financial services provider's stock worth $8,483,000 after purchasing an additional 2,467 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Kinsale Capital Group by 281.6% during the 4th quarter. Allworth Financial LP now owns 1,202 shares of the financial services provider's stock worth $470,000 after purchasing an additional 887 shares during the period. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Transactions at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Cantor Fitzgerald dropped their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a report on Thursday, April 9th. Truist Financial dropped their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a report on Monday, April 27th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Weiss Ratings downgraded Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, April 27th. Finally, Wells Fargo & Company downgraded Kinsale Capital Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $420.00 to $357.00 in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $392.00.

Kinsale Capital Group Trading Up 2.5%

KNSL stock opened at $311.36 on Friday. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.01 and a beta of 0.95. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $339.99 and a 200-day simple moving average of $372.94. Kinsale Capital Group, Inc. has a 52 week low of $293.78 and a 52 week high of $512.76.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The business's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.71 EPS. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 20.58 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, May 28th. Kinsale Capital Group's dividend payout ratio is currently 4.40%.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

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