The Manufacturers Life Insurance Company Acquires Shares of 15,830 Kinsale Capital Group, Inc. $KNSL

The Manufacturers Life Insurance Company bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,830 shares of the financial services provider’s stock, valued at approximately $5,221,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Kinsale Capital Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bayban purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth $25,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group in the fourth quarter valued at about $29,000. Johnson Financial Group Inc. increased its position in Kinsale Capital Group by 257.1% in the 3rd 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 increased its position in Kinsale Capital Group by 225.0% in the 3rd 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 last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Kinsale Capital Group during the 2nd quarter worth about $38,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KNSL has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Morgan Stanley raised their price objective on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Wells Fargo & Company lifted their target price on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings upgraded shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $368.78.

Insider Buying and Selling at Kinsale Capital Group

In other news, CAO Christopher R. Tangard acquired 330 shares of Kinsale Capital Group stock in a transaction dated Monday, June 8th. The stock was acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the chief accounting officer owned 380 shares of the company’s stock, valued at $115,520. This represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL opened at $374.24 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 1.20 and a beta of 0.89. The business’s 50-day simple moving average is $356.00 and its 200-day simple moving average is $344.49. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $485.00.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results 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. The firm had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.78 EPS. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

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.