Odyssean LLC Increases Holdings in Kinsale Capital Group, Inc. $KNSL

Odyssean LLC grew its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 141.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,547 shares of the financial services provider’s stock after acquiring an additional 5,591 shares during the quarter. Odyssean LLC’s holdings in Kinsale Capital Group were worth $3,149,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Kinsale Capital Group during the second quarter valued at $671,457,000. Life Cycle Investment Partners Ltd bought a new position in Kinsale Capital Group in the 4th quarter worth about $229,653,000. Capital World Investors grew its position in Kinsale Capital Group by 117.4% during the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after purchasing an additional 533,499 shares during the last quarter. Norges Bank purchased a new stake in Kinsale Capital Group during the 4th quarter valued at about $107,916,000. Finally, Bank of New York Mellon Corp bought a new stake in Kinsale Capital Group during the 2nd quarter valued at about $45,595,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Price Performance

KNSL opened at $372.86 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $8.49 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.21 and a beta of 0.89. The company’s 50-day simple moving average is $361.07 and its two-hundred day simple moving average is $344.36. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. During the same period in the previous year, the business posted $4.78 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, analysts predict that Kinsale Capital Group, Inc. will post 21.1 EPS for the current year.

Kinsale Capital Group Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Christopher Tangard bought 330 shares of the business’s stock in a transaction on Monday, June 8th. The stock was acquired at an average price of $304.00 per share, with a total value of $100,320.00. Following the transaction, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. This trade represents a 660.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KNSL. Weiss Ratings raised shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Wells Fargo & Company boosted their price objective on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Finally, Morgan Stanley upped their price objective on Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $368.78.

Kinsale Capital Group Company 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.