L2 Asset Management LLC Takes $1.57 Million Position in Kinsale Capital Group, Inc. $KNSL

L2 Asset Management LLC acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,776 shares of the financial services provider’s stock, valued at approximately $1,575,000.

Several other large investors also recently added to or reduced their stakes in KNSL. Vident Advisory LLC increased its holdings in Kinsale Capital Group by 2.9% during the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock valued at $399,000 after buying an additional 23 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of 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 acquiring an additional 28 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Kinsale Capital Group by 20.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 28 shares during the period. CWM LLC grew its position in shares of Kinsale Capital Group by 5.3% during the 4th quarter. CWM LLC now owns 592 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 30 shares during the period. Finally, Mutual Advisors LLC increased its stake in shares of 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 purchasing an additional 34 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KNSL has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Morgan Stanley boosted their price target on Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Wells Fargo & Company raised 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. Truist Financial lowered their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $368.78.

Kinsale Capital Group Trading Up 3.2%

Kinsale Capital Group stock opened at $395.68 on Tuesday. 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 stock has a market cap of $9.01 billion, a P/E ratio of 16.03, a PEG ratio of 1.21 and a beta of 0.89. The firm’s 50 day moving average price is $348.39 and its 200-day moving average price is $345.26. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $485.00.

Kinsale Capital Group (NYSE:KNSL) last issued 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. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The business had revenue of $548.52 million for the quarter, compared to analysts’ expectations of $445.13 million. During the same period in the prior year, the firm earned $4.78 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities analysts predict that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is presently 4.05%.

Insider Transactions at Kinsale Capital Group

In related news, CAO Christopher R. Tangard purchased 330 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the chief accounting officer directly owned 380 shares in the company, valued at $115,520. This represents a 660.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.60% of the stock is currently owned by corporate insiders.

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.