Man Group plc Buys New Stake in Kinsale Capital Group, Inc. $KNSL

Man Group plc acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,570 shares of the financial services provider’s stock, valued at approximately $6,125,000.

Several other hedge funds have also recently added to or reduced their stakes in KNSL. Vident Advisory LLC lifted its position in shares of Kinsale Capital Group by 2.9% in the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 23 shares during the period. Smartleaf Asset Management LLC increased its position in shares of 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 valued at $77,000 after purchasing an additional 28 shares during the period. CWM LLC increased its position in shares of Kinsale Capital Group by 5.3% during the fourth quarter. CWM LLC now owns 592 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC raised its stake in shares of Kinsale Capital Group by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 883 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 34 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Kinsale Capital Group by 1.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,161 shares of the financial services provider’s stock valued at $1,236,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on KNSL. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Wells Fargo & Company upped their target price on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. 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. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Finally, Morgan Stanley lifted their price objective 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. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $368.78.

Kinsale Capital Group Stock Down 0.1%

Shares of KNSL opened at $381.25 on Friday. The business’s fifty day moving average price is $354.41 and its two-hundred day moving average price is $344.98. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.20 and a beta of 0.89. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $485.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. The business 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%. Kinsale Capital Group’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.78 earnings per share. On average, analysts predict that Kinsale Capital Group, Inc. will post 21.1 earnings per share 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. Investors of record on Friday, August 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a 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%.

Insiders Place Their Bets

In other Kinsale Capital Group news, CAO Christopher R. Tangard purchased 330 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were bought at an average price of $304.00 per share, with a total value 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 trade represents a 660.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

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.