Cibc World Market Inc. Buys Shares of 1,411 Kinsale Capital Group, Inc. $KNSL

Cibc World Market Inc. bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,411 shares of the financial services provider’s stock, valued at approximately $465,000.

Several other hedge funds also recently modified their holdings of the business. Bayban acquired a new position in Kinsale Capital Group during the fourth quarter worth $25,000. International Assets Investment Management LLC acquired a new stake in shares of Kinsale Capital Group in the fourth quarter worth about $29,000. Johnson Financial Group Inc. lifted its position in shares of Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after buying an additional 54 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Kinsale Capital Group by 225.0% during the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 54 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of Kinsale Capital Group during the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

KNSL has been the subject of several analyst reports. Weiss Ratings upgraded Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Morgan Stanley lifted their price target on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Finally, Wells Fargo & Company raised their target price on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $368.78.

Insider Transactions at Kinsale Capital Group

In related news, CAO Christopher R. Tangard acquired 330 shares of the business’s stock in a transaction on Monday, June 8th. The stock was bought at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares in the company, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $381.25 on Friday. Kinsale Capital Group, Inc. has a twelve month low of $287.20 and a twelve month high of $485.00. 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 stock has a market cap of $8.68 billion, a P/E ratio of 15.45, a PEG ratio of 1.21 and a beta of 0.89. The company’s 50-day simple moving average is $354.41 and its 200 day simple moving average is $344.98.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The company had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. During the same period in the previous year, the business earned $4.78 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, research analysts forecast that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

Kinsale Capital Group Profile

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.