Abacus Planning Group Inc. Purchases New Stake in Kinsale Capital Group, Inc. $KNSL

Abacus Planning Group Inc. purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 803 shares of the financial services provider’s stock, valued at approximately $389,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Key Financial Inc raised its holdings in Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider’s stock valued at $26,000 after buying an additional 41 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Kinsale Capital Group during the 1st quarter valued at $31,000. V Square Quantitative Management LLC bought a new stake in Kinsale Capital Group during the 2nd quarter valued at $31,000. NBC Securities Inc. bought a new stake in Kinsale Capital Group during the 1st quarter valued at $35,000. Finally, von Borstel & Associates Inc. bought a new stake in Kinsale Capital Group during the 1st quarter valued at $42,000. 85.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KNSL has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a “market perform” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Compass Point boosted their price objective on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Bank of America began coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They set a “buy” rating and a $543.00 price objective on the stock. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, June 22nd. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus target price of $505.80.

Kinsale Capital Group Stock Up 5.9%

Shares of Kinsale Capital Group stock opened at $442.22 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $443.03 and its two-hundred day simple moving average is $460.62. The company has a market cap of $10.30 billion, a P/E ratio of 23.07, a PEG ratio of 1.53 and a beta of 1.09. Kinsale Capital Group, Inc. has a 12-month low of $405.00 and a 12-month high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $4.41 by $0.37. The firm had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.75 EPS. Research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is currently 3.55%.

Kinsale Capital Group Profile

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.