Caprock Group LLC Makes New Investment in Kinsale Capital Group, Inc. $KNSL

Caprock Group LLC bought a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,604 shares of the financial services provider’s stock, valued at approximately $735,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cresset Asset Management LLC lifted its stake in Kinsale Capital Group by 145.3% in the 2nd quarter. Cresset Asset Management LLC now owns 5,667 shares of the financial services provider’s stock valued at $2,743,000 after buying an additional 3,357 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Kinsale Capital Group by 17.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider’s stock valued at $9,569,000 after acquiring an additional 3,305 shares in the last quarter. Ascent Group LLC boosted its stake in shares of Kinsale Capital Group by 26.4% during the third quarter. Ascent Group LLC now owns 16,148 shares of the financial services provider’s stock valued at $6,867,000 after acquiring an additional 3,375 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Kinsale Capital Group by 2.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 164,618 shares of the financial services provider’s stock worth $79,659,000 after purchasing an additional 3,448 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Kinsale Capital Group by 492.8% in the 3rd quarter. SG Americas Securities LLC now owns 14,404 shares of the financial services provider’s stock valued at $6,125,000 after purchasing an additional 11,974 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KNSL. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Cantor Fitzgerald reduced their price objective on shares of Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $433.00 price objective on shares of Kinsale Capital Group in a research report on Friday. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group has an average rating of “Hold” and a consensus price target of $472.64.

Kinsale Capital Group Stock Down 7.4%

Shares of NYSE KNSL opened at $371.15 on Tuesday. Kinsale Capital Group, Inc. has a 12-month low of $341.06 and a 12-month high of $512.76. The company has a market cap of $8.63 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.31 and a beta of 0.99. The company has a current ratio of 0.08, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $394.96 and a 200 day moving average price of $415.35.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, topping the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same period in the previous year, the company posted $4.62 EPS. Research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be paid a dividend of $0.25 per share. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, February 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.14%.

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

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.