Rockbridge Asset Management LLC Makes New Investment in Kinsale Capital Group, Inc. $KNSL

Rockbridge Asset Management LLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,949 shares of the financial services provider’s stock, valued at approximately $2,951,000. Kinsale Capital Group makes up about 1.9% of Rockbridge Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KNSL. BlackRock Inc. purchased a new position in Kinsale Capital Group in the second quarter valued at about $671,457,000. Life Cycle Investment Partners Ltd purchased a new position in Kinsale Capital Group in the 4th quarter valued at approximately $229,653,000. Capital World Investors raised its holdings in Kinsale Capital Group by 117.4% during the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after purchasing an additional 533,499 shares during the last quarter. Norges Bank purchased a new stake in Kinsale Capital Group during the fourth quarter worth $107,916,000. Finally, Bank of New York Mellon Corp acquired a new stake in Kinsale Capital Group in the second quarter valued at $45,595,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Truist Financial lowered their price target 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. TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Royal Bank Of Canada cut their price objective 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 analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has an average rating of “Reduce” and an average target price of $368.78.

Kinsale Capital Group Stock Up 2.1%

KNSL opened at $380.55 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.89. The business has a 50-day moving average of $343.87 and a two-hundred day moving average of $345.39. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $485.00.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share 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 business had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. During the same period in the prior year, the firm posted $4.78 EPS. The company’s revenue was up 16.8% on a year-over-year basis. On average, research analysts expect that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

Insider Buying and Selling at Kinsale Capital Group

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 transaction, the insider directly owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher R. Tangard bought 330 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average price of $304.00 per share, for a total transaction of $100,320.00. Following 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 position. The SEC filing for this purchase provides additional information. 5.60% of the stock is owned by insiders.

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.