Connor Clark & Lunn Investment Management Ltd. Acquires 1,244 Shares of Kinsale Capital Group, Inc. $KNSL

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 53.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,556 shares of the financial services provider’s stock after acquiring an additional 1,244 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kinsale Capital Group were worth $1,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Kinsale Capital Group in the 1st quarter worth about $125,003,000. First Manhattan CO. LLC. lifted its holdings in Kinsale Capital Group by 401.4% in the first quarter. First Manhattan CO. LLC. now owns 201,272 shares of the financial services provider’s stock worth $97,961,000 after buying an additional 161,132 shares during the period. Madison Asset Management LLC purchased a new stake in Kinsale Capital Group in the first quarter worth about $76,235,000. JPMorgan Chase & Co. boosted its position in Kinsale Capital Group by 39.8% during the 1st quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider’s stock valued at $224,204,000 after acquiring an additional 131,056 shares in the last quarter. Finally, Giverny Capital Inc. grew its holdings in shares of Kinsale Capital Group by 87.3% during the 1st quarter. Giverny Capital Inc. now owns 169,967 shares of the financial services provider’s stock worth $82,725,000 after acquiring an additional 79,208 shares during the period. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $389.55 on Monday. The business’s fifty day simple moving average is $429.55 and its two-hundred day simple moving average is $451.65. 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, Inc. has a 12 month low of $382.89 and a 12 month high of $531.79. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 1.46 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share for the quarter, topping the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.The firm had revenue of $497.51 million during the quarter, compared to analysts’ expectations of $446.00 million. During the same quarter in the previous year, the business earned $4.20 earnings per share. The company’s revenue was up 19.0% on a year-over-year basis. Research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, November 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.34%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KNSL shares. Compass Point lifted their price target on Kinsale Capital Group from $432.00 to $490.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Cantor Fitzgerald upgraded shares of Kinsale Capital Group to a “hold” rating in a report on Wednesday, August 13th. TD Cowen reduced their target price on shares of 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Kinsale Capital Group in a research report on Thursday. Finally, Truist Financial boosted their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $495.44.

About Kinsale Capital Group

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.