William Blair Investment Management LLC Reduces Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• William Blair Investment Management LLC has reduced its holdings in Kinsale Capital Group by 55.8% during the second quarter, now owning approximately 0.07% of the company's stock.
• Kinsale Capital Group reported earnings of $4.78 per share, surpassing analyst estimates, with a year-over-year revenue increase of 22.2%.
• Hedge funds and other institutional investors own 85.36% of Kinsale Capital Group's stock, reflecting significant interest from the financial community.

William Blair Investment Management LLC trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 55.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,661 shares of the financial services provider's stock after selling 20,998 shares during the period. William Blair Investment Management LLC owned about 0.07% of Kinsale Capital Group worth $8,062,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. UMB Bank n.a. increased its stake in shares of Kinsale Capital Group by 11.3% during the 2nd quarter. UMB Bank n.a. now owns 237 shares of the financial services provider's stock worth $115,000 after purchasing an additional 24 shares in the last quarter. Total Clarity Wealth Management Inc. grew its stake in Kinsale Capital Group by 3.6% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 716 shares of the financial services provider's stock worth $346,000 after acquiring an additional 25 shares during the period. Private Trust Co. NA grew its stake 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 acquiring an additional 27 shares during the period. Xponance Inc. grew its stake in Kinsale Capital Group by 0.7% in the 1st quarter. Xponance Inc. now owns 4,496 shares of the financial services provider's stock worth $2,188,000 after acquiring an additional 30 shares during the period. Finally, Foster Dykema Cabot & Partners LLC grew its stake in Kinsale Capital Group by 2.6% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 1,190 shares of the financial services provider's stock worth $579,000 after acquiring an additional 30 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $442.75 on Tuesday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.65 and a beta of 1.09. The firm's fifty day simple moving average is $446.98 and its 200 day simple moving average is $459.36. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share 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 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 quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.75 EPS. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have commented on KNSL shares. Morgan Stanley lowered their target price on shares of Kinsale Capital Group from $525.00 to $500.00 and set an "overweight" rating for the company in a research note on Tuesday, October 7th. Truist Financial lifted their target price on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. lifted their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. BMO Capital Markets lifted their target price on shares of 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. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Kinsale Capital Group in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $506.89.

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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