Zurcher Kantonalbank Zurich Cantonalbank Purchases 656 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Zurcher Kantonalbank has increased its holdings in Kinsale Capital Group by 16.1%, now owning 4,739 shares valued at approximately $2.3 million.
• Multiple hedge funds, including LPL Financial and California Public Employees Retirement System, have also raised their stakes in Kinsale, with institutional investors now owning 85.36% of the company’s stock.
• Kinsale Capital Group recently reported quarterly earnings of $4.78 EPS, surpassing analyst expectations and reflecting a year-over-year revenue growth of 22.2%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 16.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,739 shares of the financial services provider's stock after acquiring an additional 656 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Kinsale Capital Group were worth $2,307,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Coldstream Capital Management Inc. raised its stake in Kinsale Capital Group by 1.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,469 shares of the financial services provider's stock valued at $683,000 after acquiring an additional 25 shares in the last quarter. Private Trust Co. NA lifted its position in Kinsale Capital Group by 2.1% in the first 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 period. Strategic Advisors LLC boosted its stake in 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 valued at $2,568,000 after purchasing an additional 30 shares in the last quarter. Xponance Inc. raised its stake in shares of 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 buying an additional 30 shares in the last quarter. Finally, Wealth Alliance LLC raised its stake in shares of Kinsale Capital Group by 6.0% in the 1st quarter. Wealth Alliance LLC now owns 565 shares of the financial services provider's stock worth $275,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Analysts Set New Price Targets

KNSL has been the topic of a number of research analyst reports. Compass Point lifted their target price on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Truist Financial lifted their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. BMO Capital Markets boosted their target price on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price target on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, Bank of America began coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They issued a "buy" rating and a $543.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $506.44.

Insider Buying and Selling at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 6,646 shares in the company, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is owned by corporate insiders.

Kinsale Capital Group Stock Up 0.1%

Shares of Kinsale Capital Group stock traded up $0.62 on Tuesday, hitting $446.11. 47,188 shares of the company traded hands, compared to its average volume of 207,758. Kinsale Capital Group, Inc. has a 12-month low of $405.00 and a 12-month high of $531.79. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The company has a market cap of $10.39 billion, a PE ratio of 23.26, a PEG ratio of 1.65 and a beta of 1.12. The company has a 50-day moving average price of $472.13 and a 200 day moving average price of $462.79.

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

Kinsale Capital Group Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a dividend yield of 15.0%. Kinsale Capital Group's payout ratio is currently 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.