Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 32.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,027 shares of the financial services provider’s stock after purchasing an additional 252 shares during the period. Concurrent Investment Advisors LLC’s holdings in Kinsale Capital Group were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KNSL. Cim LLC acquired a new stake in Kinsale Capital Group during the fourth quarter worth about $1,934,000. Axiom Investors LLC DE grew its holdings in Kinsale Capital Group by 116.3% during the fourth quarter. Axiom Investors LLC DE now owns 44,135 shares of the financial services provider’s stock worth $14,781,000 after acquiring an additional 23,728 shares during the period. Janney Montgomery Scott LLC grew its holdings in Kinsale Capital Group by 113.0% during the first quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock worth $2,148,000 after acquiring an additional 2,172 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Kinsale Capital Group by 129.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 44,232 shares of the financial services provider’s stock worth $14,814,000 after acquiring an additional 24,992 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in Kinsale Capital Group by 249.2% in the second quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after purchasing an additional 3,818 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on KNSL. Oppenheimer began coverage on Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating on the stock. Truist Financial raised their price objective on Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen began coverage on Kinsale Capital Group in a report on Monday, May 20th. They issued a “hold” rating and a $403.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Finally, Royal Bank of Canada raised their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $443.38.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $473.57 on Wednesday. The company has a market cap of $11.03 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 2.14 and a beta of 1.06. The stock’s 50 day simple moving average is $430.32 and its 200-day simple moving average is $439.25. Kinsale Capital Group, Inc. has a 1-year low of $325.01 and a 1-year high of $548.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.23. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The business had revenue of $384.55 million for the quarter, compared to the consensus estimate of $410.20 million. During the same quarter last year, the business posted $2.88 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.29 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

Kinsale Capital Group 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.