nVerses Capital LLC Acquires 300 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

nVerses Capital LLC raised its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 300.0% in the second quarter, Holdings Channel reports. The institutional investor owned 400 shares of the financial services provider’s stock after acquiring an additional 300 shares during the period. nVerses Capital LLC’s holdings in Kinsale Capital Group were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in shares of Kinsale Capital Group by 50.1% in the fourth quarter. Russell Investments Group Ltd. now owns 25,877 shares of the financial services provider’s stock worth $8,667,000 after buying an additional 8,635 shares during the period. Van ECK Associates Corp raised its stake in shares of Kinsale Capital Group by 46.3% in the fourth quarter. Van ECK Associates Corp now owns 6,754 shares of the financial services provider’s stock worth $2,262,000 after buying an additional 2,136 shares during the period. Natixis Advisors L.P. raised its stake in shares of Kinsale Capital Group by 18.7% in the fourth quarter. Natixis Advisors L.P. now owns 14,171 shares of the financial services provider’s stock worth $4,746,000 after buying an additional 2,236 shares during the period. Gallacher Capital Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth about $306,000. Finally, Machina Capital S.A.S. raised its stake in shares of Kinsale Capital Group by 46.3% in the fourth quarter. Machina Capital S.A.S. now owns 1,157 shares of the financial services provider’s stock worth $387,000 after buying an additional 366 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. 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 raised their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. TD Cowen initiated coverage on Kinsale Capital Group in a research note on Monday, May 20th. They issued a “hold” rating and a $403.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Truist Financial increased their target price on 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $443.38.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $491.09 on Tuesday. The stock has a market capitalization of $11.44 billion, a PE ratio of 32.63, a P/E/G ratio of 2.14 and a beta of 1.06. The business has a 50 day simple moving average of $428.32 and a two-hundred day simple moving average of $438.88. 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, Inc. has a 1-year low of $325.01 and a 1-year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly 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. The business had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $410.20 million. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 EPS. On average, research analysts predict that Kinsale Capital Group, Inc. will post 15.29 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Kinsale Capital Group Company 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.