Thoroughbred Financial Services LLC Makes New Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

Thoroughbred Financial Services LLC bought a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 528 shares of the financial services provider’s stock, valued at approximately $203,000.

Other large investors have also made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $44,000. Avantax Advisory Services Inc. grew its stake in shares of Kinsale Capital Group by 4.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 957 shares of the financial services provider’s stock valued at $321,000 after buying an additional 41 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Kinsale Capital Group by 23.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 1,922 shares of the financial services provider’s stock worth $644,000 after buying an additional 368 shares during the last quarter. Securian Asset Management Inc. increased its holdings in shares of Kinsale Capital Group by 5.5% during the 4th quarter. Securian Asset Management Inc. now owns 1,920 shares of the financial services provider’s stock worth $643,000 after buying an additional 100 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Kinsale Capital Group during the 4th quarter valued at approximately $126,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Trading Down 0.4 %

NYSE KNSL opened at $453.60 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $10.56 billion, a P/E ratio of 30.14, a P/E/G ratio of 1.98 and a beta of 1.08. Kinsale Capital Group, Inc. has a 52-week low of $325.01 and a 52-week high of $548.47. The firm has a 50-day moving average price of $449.44 and a 200 day moving average price of $435.89.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, topping the consensus estimate of $3.52 by $0.23. The company had revenue of $384.55 million for the quarter, compared to analyst estimates 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 was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. Equities research analysts expect that Kinsale Capital Group, Inc. will post 15.31 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given 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 payout ratio is currently 3.99%.

Analyst Upgrades and Downgrades

KNSL has been the topic of several recent analyst reports. Oppenheimer assumed coverage on Kinsale Capital Group in a research note on Friday, July 12th. They issued a “market perform” rating on the stock. Royal Bank of Canada upped their target price on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Wolfe Research cut shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Finally, Truist Financial increased their price objective on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $443.38.

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.