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

Rockbridge Asset Management LLC acquired a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the second quarter, Holdings Channel.com reports. The fund acquired 8,949 shares of the financial services provider’s stock, valued at approximately $2,951,000. Kinsale Capital Group accounts for 1.9% of Rockbridge Asset Management LLC’s holdings, making the stock its 15th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vident Advisory LLC grew its holdings in Kinsale Capital Group by 2.9% during the 2nd 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 in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Kinsale Capital Group by 3.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider’s stock worth $339,000 after buying an additional 28 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Kinsale Capital Group by 20.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock worth $77,000 after buying an additional 28 shares in the last quarter. CWM LLC lifted its holdings in Kinsale Capital Group by 5.3% in the 4th quarter. CWM LLC now owns 592 shares of the financial services provider’s stock worth $232,000 after buying an additional 30 shares in the last quarter. Finally, Mutual Advisors LLC lifted its holdings in Kinsale Capital Group by 4.0% in the 4th quarter. Mutual Advisors LLC now owns 883 shares of the financial services provider’s stock worth $345,000 after buying an additional 34 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Kinsale Capital Group news, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was acquired at an average cost of $304.00 per share, with a total value of $100,320.00. Following the acquisition, the chief accounting officer owned 380 shares of the company’s stock, valued at approximately $115,520. This represents a 660.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Salmaan K. Allibhai sold 250 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the sale, the insider directly owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KNSL. Morgan Stanley raised their target price on Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on 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. JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Finally, Royal Bank Of Canada reduced their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $368.78.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $380.55 on Thursday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The company 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. Kinsale Capital Group, Inc. has a twelve month low of $287.20 and a twelve month high of $485.00. The business has a 50 day simple moving average of $343.87 and a 200-day simple moving average of $345.39.

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 (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.43. The firm had revenue of $548.52 million for the quarter, compared to analysts’ expectations of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the business posted $4.78 earnings per share. As a group, equities 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 firm 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. 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 presently 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.