1832 Asset Management L.P. Increases Stake in Kinsale Capital Group, Inc. $KNSL

1832 Asset Management L.P. raised its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 175.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,546 shares of the financial services provider’s stock after buying an additional 4,172 shares during the period. 1832 Asset Management L.P.’s holdings in Kinsale Capital Group were worth $3,168,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in Kinsale Capital Group in the second quarter valued at $31,000. VSM Wealth Advisory LLC acquired a new stake in Kinsale Capital Group in the 2nd quarter valued at about $39,000. Toth Financial Advisory Corp boosted its stake in shares of Kinsale Capital Group by 90.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 95 shares of the financial services provider’s stock valued at $46,000 after buying an additional 45 shares during the period. Ancora Advisors LLC acquired a new position in shares of Kinsale Capital Group during the first quarter worth about $49,000. Finally, Quarry LP acquired a new position in shares of Kinsale Capital Group during the first quarter worth about $55,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 1.3%

Shares of NYSE:KNSL opened at $356.39 on Friday. Kinsale Capital Group, Inc. has a 1-year low of $352.45 and a 1-year high of $531.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $8.29 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.29 and a beta of 0.96. The firm has a fifty day moving average price of $414.22 and a 200 day moving average price of $443.86.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 EPS for the quarter, beating analysts’ consensus estimates of $4.79 by $0.42. The business had revenue of $497.51 million during the quarter, compared to analysts’ expectations of $446.00 million. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.20 earnings per share. Sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, November 28th. Kinsale Capital Group’s dividend payout ratio is 3.34%.

Wall Street Analysts Forecast Growth

KNSL has been the subject of a number of recent research reports. TD Cowen decreased their price target on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kinsale Capital Group in a research report on Tuesday, November 25th. Cantor Fitzgerald upgraded shares of Kinsale Capital Group to a “hold” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Morgan Stanley cut their price objective on shares of Kinsale Capital Group from $490.00 to $480.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and an average target price of $483.78.

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.