The Manufacturers Life Insurance Company Invests $5.22 Million in Kinsale Capital Group, Inc. $KNSL

The Manufacturers Life Insurance Company acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,830 shares of the financial services provider’s stock, valued at approximately $5,221,000.

Several other hedge funds have also recently added to or reduced their stakes in KNSL. Bayban acquired a new stake in Kinsale Capital Group in the 4th quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $29,000. Johnson Financial Group Inc. boosted its position in shares of Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 54 shares during the period. Larson Financial Group LLC boosted its position in shares of Kinsale Capital Group by 225.0% in the third quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 54 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Kinsale Capital Group in the second quarter worth $38,000. Institutional investors own 85.36% of the company’s stock.

Insider Activity

In related news, CAO Christopher R. Tangard bought 330 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the transaction, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. This represents a 660.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

KNSL has been the topic of a number of research reports. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Wells Fargo & Company raised their price target on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Morgan Stanley boosted their price objective on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. Weiss Ratings raised shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $368.78.

Kinsale Capital Group Trading Down 1.7%

Shares of KNSL stock opened at $374.24 on Tuesday. The firm has a fifty day moving average of $356.00 and a 200-day moving average of $344.49. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 1.20 and a beta of 0.89. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.43. The business had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.78 EPS. On average, equities research analysts forecast that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is currently 4.05%.

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.