Bank of Nova Scotia Makes New $1.48 Million Investment in Kinsale Capital Group, Inc. $KNSL

Bank of Nova Scotia purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 4,476 shares of the financial services provider’s stock, valued at approximately $1,476,000.

A number of other large investors also recently made changes to their positions in KNSL. Vident Advisory LLC boosted its holdings in shares of Kinsale Capital Group by 2.9% during the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 23 shares during the last quarter. Smartleaf Asset Management LLC lifted 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 buying an additional 28 shares during the period. CWM LLC boosted its stake 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 during the last quarter. Mutual Advisors LLC grew 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 valued at $345,000 after buying an additional 34 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Kinsale Capital Group by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,161 shares of the financial services provider’s stock valued at $1,236,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insider Buying and Selling

In other Kinsale Capital Group news, CAO Christopher R. Tangard purchased 330 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were purchased at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of 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 restated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Weiss Ratings raised shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Wells Fargo & Company lifted their price target on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $368.78.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $387.61 on Thursday. The firm has a market capitalization of $8.83 billion, a PE ratio of 15.71, a P/E/G ratio of 1.23 and a beta of 0.89. 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 business has a 50-day moving average of $351.48 and a two-hundred day moving average of $344.96. 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 released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $4.78 EPS. As a group, research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is 4.05%.

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.