Picton Mahoney Asset Management Acquires New Stake in Kinsale Capital Group, Inc. $KNSL

by · The Markets Daily

Picton Mahoney Asset Management acquired a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 2,466 shares of the financial services provider’s stock, valued at approximately $1,049,000.

Several other hedge funds have also recently made changes to their positions in KNSL. Epoch Investment Partners Inc. lifted its position in shares of Kinsale Capital Group by 1.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 2,174 shares of the financial services provider’s stock valued at $1,052,000 after buying an additional 23 shares during the last quarter. Vident Advisory LLC lifted its holdings in Kinsale Capital Group by 2.9% during the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 23 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in Kinsale Capital Group by 1.4% during the second quarter. Portside Wealth Group LLC now owns 1,860 shares of the financial services provider’s stock valued at $900,000 after purchasing an additional 25 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Kinsale Capital Group by 20.9% during the second quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 28 shares during the period. Finally, Diversified Trust Co increased its stake in shares of Kinsale Capital Group by 0.6% in the third quarter. Diversified Trust Co now owns 4,805 shares of the financial services provider’s stock worth $2,043,000 after purchasing an additional 31 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Trading Down 1.3%

Kinsale Capital Group stock opened at $378.50 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 0.08. Kinsale Capital Group, Inc. has a fifty-two week low of $341.06 and a fifty-two week high of $512.76. The stock has a market cap of $8.76 billion, a P/E ratio of 17.47, a PEG ratio of 1.56 and a beta of 1.01. The firm’s fifty day moving average price is $392.73 and its 200-day moving average price is $410.10.

Kinsale Capital Group (NYSE:KNSL – Get Free Report) last posted its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, topping the consensus estimate of $5.30 by $0.51. The business had revenue of $483.27 million during the quarter, compared to analysts’ expectations of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same period in the previous year, the business earned $4.62 earnings per share. Equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group declared that its board has approved a share buyback program on Thursday, December 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s payout ratio is presently 4.61%.

Analyst Ratings Changes

KNSL has been the topic of a number of recent research reports. BMO Capital Markets cut shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research note on Wednesday, February 25th. Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a research report on Tuesday, December 16th. Cantor Fitzgerald reduced their price target on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target of $441.91.

Get Our Latest Stock Report on KNSL

Kinsale Capital Group Company Profile

(Free Report)

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.

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