Arizona State Retirement System Boosts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Posted by on May 12th, 2023

Arizona State Retirement System increased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,139 shares of the financial services provider’s stock after purchasing an additional 225 shares during the period. Arizona State Retirement System’s holdings in Kinsale Capital Group were worth $1,605,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Wipfli Financial Advisors LLC purchased a new stake in shares of Kinsale Capital Group during the 3rd quarter worth approximately $25,000. Lazard Asset Management LLC purchased a new stake in shares of Kinsale Capital Group during the 1st quarter worth approximately $31,000. Almanack Investment Partners LLC. purchased a new stake in shares of Kinsale Capital Group during the 3rd quarter worth approximately $33,000. Bessemer Group Inc. purchased a new stake in shares of Kinsale Capital Group during the 3rd quarter worth approximately $39,000. Finally, National Bank of Canada FI purchased a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $40,000. 85.97% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $331.68 on Friday. The stock’s fifty day moving average is $312.33 and its two-hundred day moving average is $297.73. The company has a market capitalization of $7.68 billion, a PE ratio of 42.07 and a beta of 0.86. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.24. Kinsale Capital Group, Inc. has a 52 week low of $196.00 and a 52 week high of $345.75.

Kinsale Capital Group (NYSE:KNSL – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The financial services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.24 by $0.20. The company had revenue of $299.03 million for the quarter, compared to the consensus estimate of $252.84 million. Kinsale Capital Group had a return on equity of 28.34% and a net margin of 20.44%. Kinsale Capital Group’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. As a group, analysts expect that Kinsale Capital Group, Inc. will post 10.32 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 13th. Stockholders of record on Tuesday, February 28th were given a dividend of $0.14 per share. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, February 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.17%. Kinsale Capital Group’s dividend payout ratio is presently 7.09%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KNSL. Jefferies Financial Group upped their price objective on Kinsale Capital Group from $313.00 to $315.00 and gave the stock a “hold” rating in a report on Monday, April 10th. StockNews.com initiated coverage on Kinsale Capital Group in a report on Thursday, March 16th. They set a “hold” rating on the stock. Royal Bank of Canada increased their price target on Kinsale Capital Group from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, February 21st. BMO Capital Markets increased their price target on Kinsale Capital Group from $230.00 to $245.00 and gave the company an “underperform” rating in a report on Wednesday, April 5th. Finally, Compass Point lowered Kinsale Capital Group from a “buy” rating to a “neutral” rating and increased their price target for the company from $330.00 to $350.00 in a report on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $334.00.

Insider Transactions at Kinsale Capital Group

In other news, Director Steven J. Bensinger sold 3,000 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $327.59, for a total transaction of $982,770.00. Following the transaction, the director now owns 27,887 shares of the company’s stock, valued at approximately $9,135,502.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Steven J. Bensinger sold 3,000 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $327.59, for a total transaction of $982,770.00. Following the transaction, the director now owns 27,887 shares of the company’s stock, valued at approximately $9,135,502.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Kehoe sold 3,500 shares of the stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $317.30, for a total value of $1,110,550.00. Following the transaction, the chief executive officer now directly owns 311,189 shares in the company, valued at approximately $98,740,269.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,180 shares of company stock valued at $9,421,052. 6.00% of the stock is currently owned by corporate insiders.

About Kinsale Capital Group

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Kinsale Capital Group, Inc is a holding company, which engages in the provision of property and casualty insurance services. It operates the Excess and Surplus Lines Insurance segment. The Excess and Surplus Lines Insurance segment provides commercial excess and surplus lines liability and property insurance products through underwriting divisions.

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Institutional Ownership by Quarter for Kinsale Capital Group (NYSE:KNSL)

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