iA Global Asset Management Inc. Makes New Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

iA Global Asset Management Inc. bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 465 shares of the financial services provider’s stock, valued at approximately $244,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Kinsale Capital Group during the first quarter valued at $25,000. Brown Brothers Harriman & Co. purchased a new position in Kinsale Capital Group during the fourth quarter valued at $33,000. Quarry LP purchased a new position in Kinsale Capital Group during the fourth quarter valued at $40,000. Principal Securities Inc. purchased a new position in Kinsale Capital Group during the fourth quarter valued at $44,000. Finally, Arlington Trust Co LLC purchased a new position in Kinsale Capital Group during the fourth quarter valued at $54,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Price Performance

Shares of KNSL stock traded down $7.89 during trading hours on Friday, hitting $439.44. The stock had a trading volume of 69,970 shares, compared to its average volume of 188,076. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s 50-day moving average price is $391.51 and its two-hundred day moving average price is $427.73. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.01 and a beta of 1.06.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.23. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The firm had revenue of $384.55 million for the quarter, compared to analysts’ expectations of $410.20 million. During the same period in the previous year, the firm posted $2.88 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. Equities analysts forecast that Kinsale Capital Group, Inc. will post 15.15 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were paid a dividend of $0.15 per share. The ex-dividend date was Friday, May 31st. This represents a $0.60 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s payout ratio is currently 3.99%.

Insiders Place Their Bets

In other Kinsale Capital Group news, Director C. Kronenberg Anne 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is available through this link. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KNSL shares. JPMorgan Chase & Co. lifted their target price on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research report on Monday. Truist Financial boosted their price objective on Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a research report on Monday. Compass Point lowered their price objective on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Finally, Oppenheimer started coverage on Kinsale Capital Group in a research report on Friday, July 12th. They issued a “market perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $443.38.

About Kinsale Capital Group

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.