Covey Capital Advisors LLC Purchases 1,073 Shares of Kinsale Capital Group, Inc. $KNSL

Covey Capital Advisors LLC boosted its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 66.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,688 shares of the financial services provider’s stock after buying an additional 1,073 shares during the quarter. Kinsale Capital Group makes up about 1.4% of Covey Capital Advisors LLC’s portfolio, making the stock its 20th biggest position. Covey Capital Advisors LLC’s holdings in Kinsale Capital Group were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of KNSL. UMB Bank n.a. raised its holdings in shares of Kinsale Capital Group by 11.3% in the second quarter. UMB Bank n.a. now owns 237 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 24 shares during the last quarter. Total Clarity Wealth Management Inc. grew its position in Kinsale Capital Group by 3.6% in the second quarter. Total Clarity Wealth Management Inc. now owns 716 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA increased its stake in Kinsale Capital Group by 2.1% in the 1st quarter. Private Trust Co. NA now owns 1,288 shares of the financial services provider’s stock valued at $627,000 after buying an additional 27 shares during the last quarter. Emerald Advisers LLC lifted its position in Kinsale Capital Group by 1.7% during the 2nd quarter. Emerald Advisers LLC now owns 1,649 shares of the financial services provider’s stock worth $798,000 after buying an additional 28 shares in the last quarter. Finally, Xponance Inc. lifted its position in Kinsale Capital Group by 0.7% during the 1st quarter. Xponance Inc. now owns 4,496 shares of the financial services provider’s stock worth $2,188,000 after buying an additional 30 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of Kinsale Capital Group in a research note on Wednesday, October 8th. Truist Financial boosted their price target on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. BMO Capital Markets increased their price objective on Kinsale Capital Group from $429.00 to $474.00 and gave the company a “market perform” rating in a report on Tuesday, July 29th. Finally, Cantor Fitzgerald upgraded shares of Kinsale Capital Group to a “hold” rating in a report on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target of $502.13.

Kinsale Capital Group Price Performance

NYSE:KNSL opened at $398.28 on Friday. 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’s 50 day moving average price is $443.26 and its two-hundred day moving average price is $457.68. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.46 and a beta of 1.09. Kinsale Capital Group, Inc. has a 12-month low of $395.42 and a 12-month high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 EPS for the quarter, topping the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.The company had revenue of $405.06 million during the quarter, compared to the consensus estimate of $446.00 million. During the same period in the previous year, the company posted $4.20 EPS. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 29th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, August 29th. Kinsale Capital Group’s payout ratio is currently 3.34%.

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.