Susquehanna Fundamental Investments LLC Sells 23,760 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Susquehanna Fundamental Investments cut its Kinsale Capital Group stake by 60.2%, selling 23,760 shares in the second quarter and retaining 15,719 shares valued at approximately $5.18 million.
• Analysts remain cautious: Kinsale has a consensus rating of “Reduce”, with one Buy, seven Hold, and two Sell ratings, despite recent price-target increases and a consensus target of $368.78.
• Kinsale reported strong quarterly results, with EPS of $5.54 exceeding estimates of $5.11 and revenue rising 16.8% year over year to $548.52 million. The company also declared a quarterly dividend of $0.25 per share.

Susquehanna Fundamental Investments LLC cut its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 60.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,719 shares of the financial services provider's stock after selling 23,760 shares during the quarter. Susquehanna Fundamental Investments LLC owned about 0.07% of Kinsale Capital Group worth $5,184,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock valued at $397,000 after buying an additional 361 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Kinsale Capital Group by 72.9% during the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock worth $49,000 after acquiring an additional 43 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Kinsale Capital Group by 7.9% during the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock worth $541,000 after acquiring an additional 82 shares during the period. Jump Financial LLC raised its holdings in shares of Kinsale Capital Group by 136.9% during the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock worth $531,000 after acquiring an additional 634 shares during the period. Finally, Cerity Partners LLC lifted its position in Kinsale Capital Group by 45.3% in the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock valued at $2,430,000 after acquiring an additional 1,566 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KNSL. Morgan Stanley upped their target price on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 19th. Wells Fargo & Company lifted their price target on Kinsale Capital Group from $366.00 to $377.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. TD Cowen restated a "hold" rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Weiss Ratings raised Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $368.78.

Insider Activity

In other news, CAO Christopher R. Tangard purchased 330 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the purchase, the chief accounting officer directly owned 380 shares of the company's stock, valued at $115,520. This trade represents a 660.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Kinsale Capital Group Price Performance

NYSE:KNSL opened at $374.24 on Tuesday. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00. The company has a market cap of $8.53 billion, a P/E ratio of 15.16, a P/E/G ratio of 1.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The stock's 50-day simple moving average is $356.00 and its 200 day simple moving average is $344.49.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating the consensus estimate of $5.11 by $0.43. The firm had revenue of $548.52 million during the quarter, compared to analysts' expectations of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The business's quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.78 earnings per share. As a group, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, August 28th. Kinsale Capital Group's payout ratio is currently 4.05%.

About Kinsale Capital Group

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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