Bank of Nova Scotia Increases Holdings in Kinsale Capital Group, Inc. $KNSL

Bank of Nova Scotia boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 145.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,854 shares of the financial services provider’s stock after purchasing an additional 1,692 shares during the period. Bank of Nova Scotia’s holdings in Kinsale Capital Group were worth $975,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of Kinsale Capital Group by 76.2% during the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after buying an additional 43 shares during the period. Brown Advisory Inc. boosted its position in shares of Kinsale Capital Group by 7.9% in the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after buying an additional 82 shares during the period. Jump Financial LLC grew its stake in shares of Kinsale Capital Group by 136.9% in the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock valued at $531,000 after buying an additional 634 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Kinsale Capital Group by 45.3% in the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock valued at $2,430,000 after buying an additional 1,566 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KNSL shares. Morgan Stanley reduced their price target on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Cantor Fitzgerald lowered their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, 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. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group has a consensus rating of “Reduce” and an average price target of $362.11.

Kinsale Capital Group Stock Up 1.7%

Shares of NYSE KNSL opened at $376.57 on Thursday. 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, Inc. has a 1 year low of $287.20 and a 1 year high of $485.00. The stock’s 50-day simple moving average is $324.31 and its 200-day simple moving average is $348.29. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.17 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same quarter in the prior year, the business posted $4.78 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, equities analysts anticipate that Kinsale Capital Group, Inc. will post 21.11 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is presently 4.05%.

Insider Activity

In other Kinsale Capital Group news, CAO Christopher R. Tangard bought 330 shares of Kinsale Capital Group stock in a transaction dated 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 purchase, the chief accounting officer owned 380 shares in the company, valued at $115,520. This represents a 660.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the sale, the insider directly owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company 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.