Vancity Investment Management Ltd Buys New Stake in Kinsale Capital Group, Inc. $KNSL

Key Points

• Vancity Investment Management Ltd has acquired a new stake in Kinsale Capital Group, purchasing 2,068 shares valued at approximately $1,007,000.
• Several institutional investors have increased their stakes in Kinsale Capital Group, with notable increases from JPMorgan Chase & Co and GAMMA Investing LLC, indicating strong interest in the stock.
• Analysts have raised their price targets for Kinsale Capital Group, with a consensus target price of $505.80, suggesting a generally favorable outlook for the company's stock performance.

Vancity Investment Management Ltd bought a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,068 shares of the financial services provider's stock, valued at approximately $1,007,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. DAVENPORT & Co LLC lifted its position in Kinsale Capital Group by 6.2% during the first quarter. DAVENPORT & Co LLC now owns 543,349 shares of the financial services provider's stock valued at $263,233,000 after acquiring an additional 31,480 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Kinsale Capital Group by 39.8% during the 1st quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider's stock valued at $224,204,000 after purchasing an additional 131,056 shares in the last quarter. Geneva Capital Management LLC increased its stake in Kinsale Capital Group by 0.6% during the 1st quarter. Geneva Capital Management LLC now owns 405,363 shares of the financial services provider's stock valued at $197,294,000 after purchasing an additional 2,449 shares in the last quarter. GAMMA Investing LLC increased its stake in Kinsale Capital Group by 59,220.7% during the 1st quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after purchasing an additional 308,540 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in Kinsale Capital Group during the 1st quarter valued at approximately $125,003,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. BMO Capital Markets upped their price target on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. Morgan Stanley upped their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Compass Point upped their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Truist Financial upped their price target 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. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $505.80.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL opened at $455.77 on Monday. The company's fifty day moving average price is $463.06 and its 200 day moving average price is $462.16. Kinsale Capital Group, Inc. has a 1 year low of $405.00 and a 1 year high of $531.79. The company has a market capitalization of $10.62 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.67 and a beta of 1.13. 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 posted its quarterly earnings data 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. The business had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The company's revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $3.75 earnings per share. On average, research analysts predict 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 disclosed 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 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, August 29th. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.55%.

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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