Squarepoint Ops LLC Increases Stake in Kinsale Capital Group, Inc. $KNSL

Squarepoint Ops LLC boosted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 62.5% during the 2nd quarter, Holdings Channel reports. The firm owned 3,732 shares of the financial services provider’s stock after acquiring an additional 1,435 shares during the quarter. Squarepoint Ops LLC’s holdings in Kinsale Capital Group were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Kinsale Capital Group by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 225,186 shares of the financial services provider’s stock worth $109,589,000 after buying an additional 26,282 shares during the period. Cresset Asset Management LLC raised its stake in Kinsale Capital Group by 13.1% in the 1st quarter. Cresset Asset Management LLC now owns 2,310 shares of the financial services provider’s stock worth $1,124,000 after acquiring an additional 268 shares during the last quarter. Northern Trust Corp lifted its position in Kinsale Capital Group by 3.0% during the 1st quarter. Northern Trust Corp now owns 223,116 shares of the financial services provider’s stock worth $108,593,000 after acquiring an additional 6,500 shares during the period. CW Advisors LLC grew its stake in Kinsale Capital Group by 9.5% during the 1st quarter. CW Advisors LLC now owns 10,476 shares of the financial services provider’s stock valued at $5,099,000 after purchasing an additional 911 shares during the last quarter. Finally, Maren Capital LLC increased its holdings in shares of Kinsale Capital Group by 7.4% in the first quarter. Maren Capital LLC now owns 162,089 shares of the financial services provider’s stock valued at $78,890,000 after purchasing an additional 11,189 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

KNSL has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, October 27th. TD Cowen decreased their price objective on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Kinsale Capital Group has a consensus rating of “Hold” and an average price target of $483.78.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $394.85 on Friday. 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 $9.19 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.35 and a beta of 0.96. The firm’s 50 day simple moving average is $401.49 and its 200-day simple moving average is $438.50. Kinsale Capital Group, Inc. has a 12 month low of $349.00 and a 12 month high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.79 by $0.42. The firm had revenue of $497.51 million for the quarter, compared to the consensus estimate of $446.00 million. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.20 earnings per share. Analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Friday, November 28th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, November 28th. Kinsale Capital Group’s dividend payout ratio is presently 3.34%.

Kinsale Capital Group declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.