Ascent Group LLC Increases Stake in Kinsale Capital Group, Inc. $KNSL

Ascent Group LLC lifted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 22.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,773 shares of the financial services provider’s stock after acquiring an additional 2,303 shares during the period. Ascent Group LLC’s holdings in Kinsale Capital Group were worth $6,181,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Kinsale Capital Group during the 2nd quarter worth about $218,000. Abacus Planning Group Inc. purchased a new position in shares of Kinsale Capital Group during the 2nd quarter worth about $389,000. J2 Capital Management Inc increased its position in Kinsale Capital Group by 44.2% during the 2nd quarter. J2 Capital Management Inc now owns 1,412 shares of the financial services provider’s stock worth $683,000 after purchasing an additional 433 shares in the last quarter. Precision Wealth Strategies LLC increased its position in Kinsale Capital Group by 45.7% during the 2nd quarter. Precision Wealth Strategies LLC now owns 1,011 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 317 shares in the last quarter. Finally, Truist Financial Corp increased its position in Kinsale Capital Group by 0.4% during the 2nd quarter. Truist Financial Corp now owns 13,612 shares of the financial services provider’s stock worth $6,587,000 after purchasing an additional 50 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Up 5.3%

Shares of NYSE:KNSL opened at $465.89 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79. The company has a 50 day moving average of $442.80 and a two-hundred day moving average of $460.72. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The company had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. During the same quarter last year, the company earned $3.75 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.1%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.55%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Bank of America assumed coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They set a “buy” rating and a $543.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. BMO Capital Markets increased their target price on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 29th. Finally, Cantor Fitzgerald raised shares of Kinsale Capital Group to a “hold” rating in a research report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $505.80.

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.