Madison Asset Management LLC Acquires New Position in Kinsale Capital Group, Inc. $KNSL

Madison Asset Management LLC acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the 2nd quarter, HoldingsChannel reports. The firm acquired 123,779 shares of the financial services provider’s stock, valued at approximately $40,824,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bayban purchased a new position in shares of Kinsale Capital Group during the 4th quarter valued at $25,000. International Assets Investment Management LLC purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth $29,000. Johnson Financial Group Inc. boosted its position in Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. Larson Financial Group LLC boosted its position in Kinsale Capital Group by 225.0% during the third quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 54 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in Kinsale Capital Group in the second quarter valued at about $38,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insider Activity

In related news, insider Salmaan K. Allibhai sold 250 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the transaction, the insider owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. The trade was a 6.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher R. Tangard bought 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average price of $304.00 per share, with a total value of $100,320.00. Following the purchase, the chief accounting officer owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $380.55 on Thursday. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $485.00. The company has a fifty day simple moving average of $343.87 and a 200 day simple moving average of $345.39. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The company has a market cap of $8.67 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.18 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping the consensus estimate of $5.11 by $0.43. The firm had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.78 EPS. On average, sell-side analysts predict that Kinsale Capital Group, Inc. will post 21.1 EPS for the current year.

Kinsale Capital Group Announces Dividend

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

Analysts Set New Price Targets

KNSL has been the topic of several research reports. Morgan Stanley upped their target price on Kinsale Capital Group from $345.00 to $390.00 and gave the stock an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Royal Bank Of Canada lowered their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Truist Financial cut their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $368.78.

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.