Kinsale Capital Group, Inc. $KNSL Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1,753.3% during the 1st quarter, HoldingsChannel reports. The firm owned 7,543 shares of the financial services provider’s stock after acquiring an additional 7,136 shares during the quarter. Fifth Third Bancorp’s holdings in Kinsale Capital Group were worth $2,577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KNSL. AQR Capital Management LLC raised its holdings in shares of Kinsale Capital Group by 76.2% during the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock valued at $397,000 after buying an additional 361 shares during the period. EverSource Wealth Advisors LLC lifted its position in Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 43 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Kinsale Capital Group by 7.9% in the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 82 shares during the period. Jump Financial LLC boosted its holdings in Kinsale Capital Group by 136.9% in the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 634 shares during the period. Finally, Cerity Partners LLC grew its position in Kinsale Capital Group by 45.3% in the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock valued at $2,430,000 after acquiring an additional 1,566 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $350.31 on Tuesday. The business’s 50 day moving average is $318.62 and its two-hundred day moving average is $350.60. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $512.76. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.11 and a beta of 0.90. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $3.71 earnings per share. Analysts forecast that Kinsale Capital Group, Inc. will post 20.71 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.40%.

Insiders Place Their Bets

In other news, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of Kinsale Capital Group stock in a transaction dated Monday, June 8th. The shares were bought at an average cost 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 approximately $115,520. The trade was a 660.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KNSL shares. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Truist Financial lowered their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Wells Fargo & Company lifted their price target on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald cut their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $373.80.

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.