Prime Capital Management Co Ltd Buys New Shares in Kinsale Capital Group, Inc. $KNSL

Prime Capital Management Co Ltd acquired a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 115,498 shares of the financial services provider’s stock, valued at approximately $38,092,000. Kinsale Capital Group comprises about 3.0% of Prime Capital Management Co Ltd’s holdings, making the stock its 7th biggest position.

Several other large investors have also modified their holdings of KNSL. Bayban acquired a new stake in shares of Kinsale Capital Group in the fourth quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in Kinsale Capital Group during the fourth quarter worth approximately $29,000. Johnson Financial Group Inc. increased 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 worth $32,000 after purchasing an additional 54 shares during the last quarter. Larson Financial Group LLC raised its stake 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 worth $33,000 after purchasing an additional 54 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in Kinsale Capital Group during the second quarter worth approximately $38,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KNSL has been the topic of a number of research analyst reports. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Truist Financial dropped their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report 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. Weiss Ratings cut Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Finally, 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 report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $362.11.

Kinsale Capital Group Trading Up 1.7%

NYSE KNSL opened at $373.27 on Wednesday. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $485.00. The company’s 50 day moving average price is $342.54 and its 200 day moving average price is $345.50.

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 (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same period in the previous year, the firm earned $4.78 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 16.8% on a year-over-year basis. 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. Investors of record on Friday, August 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is 4.05%.

Insiders Place Their Bets

In related news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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, for a total transaction of $100,320.00. Following the completion of the transaction, the chief accounting officer directly owned 380 shares of the company’s stock, 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. 5.60% of the stock is currently owned by corporate insiders.

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.