Hsbc Holdings PLC Makes New $10.04 Million Investment in Kinsale Capital Group, Inc. $KNSL

Hsbc Holdings PLC bought a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 30,161 shares of the financial services provider’s stock, valued at approximately $10,035,000.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Kinsale Capital Group in the second quarter worth $671,457,000. Life Cycle Investment Partners Ltd acquired a new position in Kinsale Capital Group during the 4th quarter valued at $229,653,000. Capital World Investors boosted its holdings in Kinsale Capital Group by 117.4% in 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 period. Norges Bank acquired a new stake in Kinsale Capital Group in the 4th quarter worth $107,916,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Kinsale Capital Group during the 2nd quarter worth about $45,595,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Christopher R. Tangard acquired 330 shares of the stock in a transaction dated Monday, June 8th. The shares were 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 approximately $115,520. This trade represents a 660.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Morgan Stanley boosted their price target on Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. upped their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Wells Fargo & Company lifted their price objective on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $368.78.

Kinsale Capital Group Price Performance

NYSE:KNSL opened at $381.25 on Friday. The company has a 50-day moving average of $354.41 and a 200-day moving average of $344.98. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.21 and a beta of 0.89. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $485.00. 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 (NYSE:KNSL) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.43. The business had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.78 EPS. As a group, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

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.