Ascent Group LLC Grows Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Ascent Group LLC lifted its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 26.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,148 shares of the financial services provider’s stock after buying an additional 3,375 shares during the quarter. Ascent Group LLC owned approximately 0.07% of Kinsale Capital Group worth $6,867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KNSL. V Square Quantitative Management LLC purchased a new stake in Kinsale Capital Group during the second quarter worth about $31,000. Darwin Wealth Management LLC purchased a new position in Kinsale Capital Group in the 2nd quarter valued at approximately $38,000. VSM Wealth Advisory LLC acquired a new position in shares of Kinsale Capital Group in the second quarter worth $39,000. Toth Financial Advisory Corp increased its position in shares of Kinsale Capital Group by 90.0% during the second quarter. Toth Financial Advisory Corp now owns 95 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 45 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in shares of Kinsale Capital Group in the first quarter valued at $49,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Trading Up 0.1%

Shares of KNSL stock opened at $395.65 on Wednesday. Kinsale Capital Group, Inc. has a fifty-two week low of $349.00 and a fifty-two week high of $512.76. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $391.72 and a 200-day simple moving average of $433.96. The stock has a market cap of $9.20 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.41 and a beta of 0.96.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share for the quarter, beating the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. The firm had revenue of $497.51 million during the quarter, compared to the consensus estimate of $446.00 million. During the same period last year, the firm posted $4.20 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 28th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is presently 3.34%.

Kinsale Capital Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on KNSL. TD Cowen reduced their price target on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Royal Bank Of Canada started coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus target price of $483.78.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.