Kinsale Capital Group, Inc. (NYSE:KNSL) Stake Boosted by Congress Asset Management Co. MA

Congress Asset Management Co. MA increased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 50.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,248 shares of the financial services provider’s stock after purchasing an additional 5,815 shares during the period. Congress Asset Management Co. MA owned 0.07% of Kinsale Capital Group worth $9,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in Kinsale Capital Group in the 4th quarter worth about $25,000. Beacon Capital Management LLC acquired a new stake in Kinsale Capital Group in the 4th quarter valued at approximately $33,000. Brown Brothers Harriman & Co. bought a new stake in Kinsale Capital Group during the 4th quarter valued at $33,000. Quarry LP acquired a new position in Kinsale Capital Group during the 4th quarter worth $40,000. Finally, Principal Securities Inc. acquired a new position in Kinsale Capital Group during the 4th quarter worth $44,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 0.7 %

Shares of NYSE KNSL traded down $2.81 during mid-day trading on Friday, reaching $392.62. The company had a trading volume of 256,030 shares, compared to its average volume of 118,655. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of 26.09 and a beta of 1.07. The stock has a fifty day moving average of $396.99 and a two-hundred day moving average of $418.03. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. The business had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. Kinsale Capital Group’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 14.94 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.15%. The ex-dividend date was Friday, May 31st. Kinsale Capital Group’s dividend payout ratio is 3.99%.

Analyst Ratings Changes

Several research firms have recently issued reports on KNSL. Truist Financial decreased their price objective on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a report on Monday, April 29th. Compass Point lowered their price target on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. TD Cowen started 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $425.00 target price (down previously from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. Finally, BMO Capital Markets dropped their price target on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $434.00.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the sale, the chief operating officer now owns 95,850 shares of the company’s stock, valued at $35,247,879. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is currently owned by company insiders.

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.