Intech Investment Management LLC Buys 4,482 Shares of Kinsale Capital Group, Inc. $KNSL

Intech Investment Management LLC increased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 32.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,174 shares of the financial services provider’s stock after acquiring an additional 4,482 shares during the quarter. Intech Investment Management LLC’s holdings in Kinsale Capital Group were worth $7,729,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Kinsale Capital Group by 76.2% in the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 361 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Kinsale Capital Group by 3.4% in the second quarter. Teacher Retirement System of Texas now owns 6,277 shares of the financial services provider’s stock valued at $3,037,000 after purchasing an additional 204 shares during the period. New York Life Investment Management LLC bought a new position in Kinsale Capital Group in the second quarter worth approximately $1,121,000. Retirement Systems of Alabama increased its holdings in Kinsale Capital Group by 0.5% during the 2nd quarter. Retirement Systems of Alabama now owns 27,066 shares of the financial services provider’s stock worth $13,097,000 after purchasing an additional 139 shares during the period. Finally, Atria Investments Inc increased its holdings in Kinsale Capital Group by 5.2% during the 2nd quarter. Atria Investments Inc now owns 2,978 shares of the financial services provider’s stock worth $1,441,000 after purchasing an additional 146 shares during the period. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 1.9%

Shares of NYSE KNSL opened at $389.80 on Friday. Kinsale Capital Group, Inc. has a 1-year low of $341.06 and a 1-year high of $512.76. The business has a fifty day moving average price of $393.52 and a 200 day moving average price of $411.74. The stock has a market capitalization of $9.02 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, topping analysts’ consensus estimates of $5.30 by $0.51. The business had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same period in the previous year, the company posted $4.62 earnings per share. Equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group declared that its Board of Directors has initiated a share repurchase program on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is currently 4.61%.

Analyst Ratings Changes

Several equities research analysts have weighed in on KNSL shares. Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. TD Cowen decreased their price objective on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $433.00 price objective on shares of Kinsale Capital Group in a research note on Friday, February 13th. Cantor Fitzgerald cut their target price on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada began coverage on shares of Kinsale Capital Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target for the company. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and an average target price of $441.91.

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.