Cibc World Market Inc. Purchases New Shares in Kinsale Capital Group, Inc. $KNSL

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

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in Kinsale Capital Group during the 2nd quarter worth about $535,000. Bank of Nova Scotia bought a new position in Kinsale Capital Group in the 2nd quarter worth approximately $1,476,000. Northwestern Mutual Wealth Management Co. acquired a new position in Kinsale Capital Group during the 2nd quarter worth $289,000. Quantbot Technologies LP acquired a new position in Kinsale Capital Group during the 2nd quarter worth $5,721,000. Finally, Callan Family Office LLC bought a new position in Kinsale Capital Group in the 2nd quarter valued at $794,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings raised shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Finally, Morgan Stanley upped their target price 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. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $368.78.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $381.25 on Friday. The firm has a market capitalization of $8.68 billion, a P/E ratio of 15.45, a PEG ratio of 1.21 and a beta of 0.89. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $485.00. The business has a 50-day moving average of $354.41 and a 200-day moving average of $344.98. 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 (NYSE:KNSL) last announced its quarterly earnings results 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 net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. During the same period last year, the company posted $4.78 EPS. Kinsale Capital Group’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 EPS for the current year.

Kinsale Capital Group Announces Dividend

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

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher R. Tangard purchased 330 shares of the stock in a transaction on Monday, June 8th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.60% of the company’s stock.

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.