Legal & General Group Plc Invests $9.46 Million in Kinsale Capital Group, Inc. $KNSL

Legal & General Group Plc purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 28,690 shares of the financial services provider’s stock, valued at approximately $9,462,000. Legal & General Group Plc owned 0.13% of Kinsale Capital Group as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new position in Kinsale Capital Group in the second quarter valued at approximately $5,221,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Kinsale Capital Group during the second quarter worth $7,525,000. L2 Asset Management LLC purchased a new stake in Kinsale Capital Group in the second quarter valued at $1,575,000. Dearborn Partners LLC purchased a new stake in Kinsale Capital Group in the second quarter valued at $352,000. Finally, Cibc World Market Inc. acquired a new position in shares of Kinsale Capital Group in the 2nd quarter valued at $465,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Price Performance

KNSL stock opened at $372.10 on Wednesday. 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 $8.48 billion, a PE ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 0.89. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $485.00. The business’s fifty day moving average price is $357.34 and its 200 day moving average price is $344.25.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results 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 analyst estimates of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.Kinsale Capital Group’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.78 EPS. On average, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 EPS for the current year.

Kinsale Capital Group Dividend Announcement

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

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher R. Tangard acquired 330 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 trade represents a 660.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KNSL. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research 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 note on Wednesday, August 19th. JPMorgan Chase & Co. lifted their price target on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Morgan Stanley boosted their price target on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $368.78.

Kinsale Capital Group Company 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.