UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• UBS Asset Management Americas LLC increased its stake in Kinsale Capital Group by 2.6%, holding a total of 74,134 shares worth approximately $36.08 million as of the last SEC filing.
• Kinsale Capital Group reported $4.78 EPS for the last quarter, exceeding analyst expectations and showing a 22.2% revenue growth year-over-year.
• The company declared a quarterly dividend of $0.17 per share, resulting in an annualized yield of 0.2%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,134 shares of the financial services provider's stock after purchasing an additional 1,894 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.32% of Kinsale Capital Group worth $36,082,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Private Trust Co. NA increased its position in Kinsale Capital Group by 2.1% in the 1st quarter. Private Trust Co. NA now owns 1,288 shares of the financial services provider's stock worth $627,000 after purchasing an additional 27 shares during the last quarter. Strategic Advisors LLC boosted its stake in shares of Kinsale Capital Group by 0.6% during the 1st quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider's stock worth $2,568,000 after acquiring an additional 30 shares in the last quarter. Xponance Inc. increased its holdings in shares of Kinsale Capital Group by 0.7% during the 1st quarter. Xponance Inc. now owns 4,496 shares of the financial services provider's stock valued at $2,188,000 after acquiring an additional 30 shares during the last quarter. Foster Dykema Cabot & Partners LLC increased its holdings in shares of Kinsale Capital Group by 2.6% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 1,190 shares of the financial services provider's stock valued at $579,000 after acquiring an additional 30 shares during the last quarter. Finally, Wealth Alliance LLC increased its holdings in shares of Kinsale Capital Group by 6.0% during the 1st quarter. Wealth Alliance LLC now owns 565 shares of the financial services provider's stock valued at $275,000 after acquiring an additional 32 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

Shares of KNSL stock traded up $0.84 during mid-day trading on Friday, reaching $428.16. 324,845 shares of the company's stock traded hands, compared to its average volume of 184,978. The firm has a 50 day moving average price of $453.40 and a two-hundred day moving average price of $462.07. 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 capitalization of $9.98 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.13. Kinsale Capital Group, Inc. has a 12 month low of $405.00 and a 12 month 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The firm had revenue of $458.70 million for the quarter, compared to analysts' expectations of $436.25 million. During the same period in the prior year, the company earned $3.75 EPS. The business's revenue was up 22.2% compared to the same quarter last year. On average, research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 29th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. Kinsale Capital Group's payout ratio is presently 3.55%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial raised their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Bank of America began coverage on Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price objective for the company. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Compass Point upped their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. upped their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $505.80.

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.