Kinsale Capital Group, Inc. $KNSL Shares Acquired by Munro Partners

Munro Partners lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 90.8% during the third quarter, Holdings Channel reports. The institutional investor owned 9,275 shares of the financial services provider’s stock after acquiring an additional 4,415 shares during the quarter. Munro Partners’ holdings in Kinsale Capital Group were worth $3,944,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of KNSL. V Square Quantitative Management LLC acquired a new position in Kinsale Capital Group in the second quarter valued at approximately $31,000. Darwin Wealth Management LLC acquired a new stake in shares of Kinsale Capital Group during the 2nd quarter worth approximately $38,000. VSM Wealth Advisory LLC purchased a new position in shares of Kinsale Capital Group during the 2nd quarter valued at approximately $39,000. Toth Financial Advisory Corp increased its holdings in shares of Kinsale Capital Group by 90.0% during the 2nd quarter. Toth Financial Advisory Corp now owns 95 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 45 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in shares of Kinsale Capital Group in the 1st quarter valued at $49,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Down 0.5%

KNSL stock opened at $397.52 on Wednesday. Kinsale Capital Group, Inc. has a 52 week low of $349.00 and a 52 week high of $512.76. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The firm has a 50-day simple moving average of $397.07 and a 200-day simple moving average of $436.45. The stock has a market capitalization of $9.25 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.43 and a beta of 0.96.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share for the quarter, beating analysts’ consensus estimates of $4.79 by $0.42. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. The firm had revenue of $497.51 million for the quarter, compared to analyst estimates of $446.00 million. During the same period last year, the company posted $4.20 EPS. Kinsale Capital Group’s quarterly revenue was up 19.0% compared to the same quarter last year. Equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Friday, November 28th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group’s payout ratio is currently 3.34%.

Kinsale Capital Group declared that its board has approved a stock buyback plan on Thursday, December 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

KNSL has been the topic of several analyst reports. Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a research report on Tuesday, December 16th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. TD Cowen dropped their target price on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. JPMorgan Chase & Co. reduced their price target on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Finally, Royal Bank Of Canada started coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $483.78.

About Kinsale Capital Group

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.