US Bancorp DE Grows Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• US Bancorp DE increased its holdings in Kinsale Capital Group by 17.9% in the first quarter, amounting to nearly $1.97 million in value after acquiring additional shares.
• Several institutional investors have also boosted their stakes in Kinsale, with notable increases from GAMMA Investing LLC at over 59,220.7% and DAVENPORT & Co LLC by 6.2%.
• Analysts have mixed ratings on Kinsale Capital Group, with price targets ranging from $429.00 to $560.00, indicating general market confidence but caution among some analysts.

US Bancorp DE lifted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 17.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,045 shares of the financial services provider's stock after purchasing an additional 614 shares during the quarter. US Bancorp DE's holdings in Kinsale Capital Group were worth $1,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC grew its position in shares of Kinsale Capital Group by 6.2% in the 1st quarter. DAVENPORT & Co LLC now owns 543,349 shares of the financial services provider's stock worth $263,233,000 after buying an additional 31,480 shares during the period. GAMMA Investing LLC boosted its stake in Kinsale Capital Group by 59,220.7% during the first quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock worth $150,423,000 after acquiring an additional 308,540 shares in the last quarter. Northern Trust Corp grew its holdings in Kinsale Capital Group by 16.8% in the fourth quarter. Northern Trust Corp now owns 216,616 shares of the financial services provider's stock worth $100,755,000 after purchasing an additional 31,094 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Kinsale Capital Group by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 198,904 shares of the financial services provider's stock valued at $92,519,000 after purchasing an additional 4,380 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Kinsale Capital Group by 10.3% during the first quarter. Stephens Investment Management Group LLC now owns 189,678 shares of the financial services provider's stock valued at $92,318,000 after purchasing an additional 17,640 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on KNSL. BMO Capital Markets upped 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, July 29th. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Compass Point lifted their price target 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. Bank of America began coverage on shares of 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, Truist Financial raised their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group currently has an average rating of "Hold" and an average price target of $506.44.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $438.94 on Friday. 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 cap of $10.23 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.64 and a beta of 1.12. The business has a 50-day simple moving average of $470.49 and a two-hundred day simple moving average of $462.55. Kinsale Capital Group, Inc. has a fifty-two week low of $405.00 and a fifty-two week high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. The firm had revenue of $458.70 million during the quarter, compared to analyst estimates of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business's revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.75 earnings per share. On average, analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

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

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the transaction, the executive vice president directly owned 6,646 shares in the company, valued at $3,136,912. This trade represents a 17.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.50% of the stock is owned by insiders.

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.

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