Stock Traders Purchase High Volume of Kinsale Capital Group Call Options (NYSE:KNSL)

Kinsale Capital Group, Inc. (NYSE:KNSL) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 2,378 call options on the company. This is an increase of approximately 2,231% compared to the typical daily volume of 102 call options.

Institutional Investors Weigh In On Kinsale Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bamco Inc. NY acquired a new position in shares of Kinsale Capital Group in the second quarter valued at approximately $878,600,000. BlackRock Inc. bought a new position in shares of Kinsale Capital Group during the second quarter worth approximately $671,457,000. First Manhattan CO. LLC. increased its stake in shares of Kinsale Capital Group by 19.6% during the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after purchasing an additional 100,600 shares during the period. Turtle Creek Asset Management Inc. lifted its holdings in Kinsale Capital Group by 47.6% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock worth $140,506,000 after purchasing an additional 132,576 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Kinsale Capital Group by 5.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 299,832 shares of the financial services provider’s stock worth $102,435,000 after purchasing an additional 14,178 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Stock Down 1.2%

Shares of NYSE KNSL traded down $4.16 during midday trading on Wednesday, reaching $335.81. The company’s stock had a trading volume of 12,675 shares, compared to its average volume of 267,911. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a fifty-two week low of $287.20 and a fifty-two week high of $473.14. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.07 and a beta of 0.88. The stock has a 50 day simple moving average of $360.80 and a 200-day simple moving average of $340.72.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. During the same quarter in the previous year, the firm posted $4.78 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts predict that Kinsale Capital Group will post 21.17 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, August 28th. Kinsale Capital Group’s payout ratio is presently 4.05%.

Analysts Set New Price Targets

KNSL has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Cantor Fitzgerald raised their price objective on shares of Kinsale Capital Group from $259.00 to $264.00 and gave the stock a “neutral” rating in a report on Wednesday, October 7th. Morgan Stanley cut their price objective on shares of Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Wells Fargo & Company reduced their target price on shares of Kinsale Capital Group from $377.00 to $348.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. lowered their target price on Kinsale Capital Group from $390.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, October 9th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $357.67.

About Kinsale Capital Group

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, including Kinsale Insurance Company, the company provides commercial property and casualty insurance in the United States.

Kinsale focuses primarily on the excess and surplus lines market, which serves businesses with risks that may not be accommodated by standard insurance carriers. Its offerings include coverage for commercial property, general liability, professional liability, commercial auto, and other specialized risks.