Cubist Systematic Strategies LLC Purchases 8,453 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Cubist Systematic Strategies LLC grew its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 263.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,660 shares of the financial services provider’s stock after purchasing an additional 8,453 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.05% of Kinsale Capital Group worth $4,492,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in KNSL. Vaughan Nelson Investment Management L.P. bought a new position in Kinsale Capital Group during the 1st quarter worth approximately $196,358,000. Maren Capital LLC bought a new position in Kinsale Capital Group during the 4th quarter worth approximately $46,478,000. Jackson Square Partners LLC bought a new position in Kinsale Capital Group during the 1st quarter worth approximately $48,035,000. Champlain Investment Partners LLC raised its holdings in Kinsale Capital Group by 58.9% during the 1st quarter. Champlain Investment Partners LLC now owns 243,474 shares of the financial services provider’s stock worth $127,761,000 after purchasing an additional 90,209 shares during the last quarter. Finally, Stephens Investment Management Group LLC bought a new position in Kinsale Capital Group during the 4th quarter worth approximately $27,441,000. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $460.63 on Friday. The company has a fifty day simple moving average of $456.71 and a 200 day simple moving average of $433.25. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.15. The company has a market cap of $10.72 billion, a P/E ratio of 30.61, a PEG ratio of 2.02 and a beta of 1.08.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23. The firm had revenue of $384.55 million for the quarter, compared to the consensus estimate of $410.20 million. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.88 EPS. Sell-side analysts predict that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is 3.99%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on KNSL shares. Truist Financial lifted their price objective on shares of Kinsale Capital Group from $485.00 to $530.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Oppenheimer started coverage on shares of Kinsale Capital Group in a research note on Friday, July 12th. They issued a “market perform” rating for the company. Wolfe Research lowered shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target of $438.71.

Kinsale Capital Group Company Profile

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.