Mitchell Sinkler & Starr PA Increases Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Mitchell Sinkler & Starr PA lifted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 57.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,303 shares of the financial services provider’s stock after purchasing an additional 478 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in Kinsale Capital Group were worth $507,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in Kinsale Capital Group during the 1st quarter worth $25,000. Brown Brothers Harriman & Co. purchased a new position in Kinsale Capital Group during the fourth quarter worth about $33,000. Trust Co. of Vermont lifted its position in Kinsale Capital Group by 113.6% in the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 50 shares during the period. Quarry LP purchased a new stake in Kinsale Capital Group in the 4th quarter valued at approximately $40,000. Finally, Principal Securities Inc. acquired a new position in Kinsale Capital Group during the 4th quarter worth approximately $44,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $463.21 on Wednesday. The company has a 50-day moving average of $440.24 and a two-hundred day moving average of $437.77. The stock has a market cap of $10.79 billion, a P/E ratio of 30.78, a PEG ratio of 2.01 and a beta of 1.08. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.15.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23. The firm had revenue of $384.55 million for the quarter, compared to analyst estimates of $410.20 million. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. Kinsale Capital Group’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 EPS. As a group, research analysts predict that Kinsale Capital Group, Inc. will post 15.31 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date is Thursday, August 29th. Kinsale Capital Group’s payout ratio is currently 3.99%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Oppenheimer began coverage on Kinsale Capital Group in a research note on Friday, July 12th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. upped their price target on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. TD Cowen initiated coverage on shares of Kinsale Capital Group in a research note on Monday, May 20th. They issued a “hold” rating and a $403.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Truist Financial lifted their price target on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $443.38.

Kinsale Capital Group Profile

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.