Seven Eight Capital LP Invests $921,000 in Kinsale Capital Group, Inc. (NYSE:KNSL)

Seven Eight Capital LP acquired a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the second quarter, according to its most recent filing with the SEC. The fund acquired 2,391 shares of the financial services provider’s stock, valued at approximately $921,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Kinsale Capital Group during the first quarter valued at about $196,358,000. Norges Bank bought a new stake in Kinsale Capital Group during the 4th quarter worth approximately $78,562,000. Maren Capital LLC bought a new stake in Kinsale Capital Group during the 4th quarter worth approximately $46,478,000. Jackson Square Partners LLC purchased a new stake in Kinsale Capital Group in the 1st quarter worth approximately $48,035,000. Finally, Champlain Investment Partners LLC boosted its holdings in Kinsale Capital Group by 58.9% in the 1st quarter. Champlain Investment Partners LLC now owns 243,474 shares of the financial services provider’s stock valued at $127,761,000 after purchasing an additional 90,209 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock opened at $450.89 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.13 and a current ratio of 0.13. Kinsale Capital Group, Inc. has a 52-week low of $325.01 and a 52-week high of $548.47. The company has a fifty day moving average of $452.13 and a 200-day moving average of $435.50. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08.

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

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.60 annualized dividend and a yield of 0.13%. Kinsale Capital Group’s payout ratio is currently 3.99%.

Wall Street Analysts Forecast Growth

KNSL has been the topic of a number of recent analyst reports. Oppenheimer started coverage on Kinsale Capital Group in a research report on Friday, July 12th. They issued a “market perform” rating on the stock. Truist Financial lifted their price target on Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Wolfe Research lowered shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada increased their price target on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.