California State Teachers Retirement System Acquires 8,341,900 Shares of Kinsale Capital Group, Inc. $KNSL

California State Teachers Retirement System raised its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 32,446.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,367,610 shares of the financial services provider’s stock after acquiring an additional 8,341,900 shares during the period. California State Teachers Retirement System owned approximately 0.37% of Kinsale Capital Group worth $2,759,721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bayban purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth $25,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group during the fourth quarter valued at $29,000. Johnson Financial Group Inc. increased its holdings 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 valued at $32,000 after acquiring an additional 54 shares during the last quarter. Larson Financial Group LLC increased its holdings 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 valued at $33,000 after acquiring an additional 54 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in Kinsale Capital Group in the 2nd quarter worth $38,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KNSL. JPMorgan Chase & Co. raised their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Weiss Ratings upgraded Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Wells Fargo & Company lifted their price objective on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Morgan Stanley upped their price objective on Kinsale Capital Group from $345.00 to $390.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. Finally, TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $368.78.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $363.14 on Friday. The company’s 50-day moving average price is $363.11 and its 200-day moving average price is $343.88. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The company has a market cap of $8.27 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.14 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.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. The firm had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.78 EPS. On average, equities research analysts forecast that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business 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. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.05%.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE: KNSL) is a specialty insurance company headquartered in Richmond, Virginia. Through its principal subsidiary, Kinsale Insurance Company, the company provides property and casualty insurance products in the excess and surplus lines market, which serves risks that may not be covered by standard insurance carriers.

Kinsale’s offerings include commercial property, casualty and specialty insurance for businesses and organizations with complex or higher-risk exposures.