Barclays PLC Increases Stake in Kinsale Capital Group

Barclays PLC has significantly grown its investment in Kinsale Capital Group, Inc. (NYSE:KNSL) by 34.4% in the third quarter of the year, according to their latest 13F filing with the Securities and Exchange Commission (SEC). As a result of this increase, Barclays now holds 11,772 shares of Kinsale, an additional 3,014 shares acquired during the quarter. Barclays' total holding in Kinsale Capital Group is valued at approximately $5.48 million, which accounts for about 0.05% of the company's total shares.

Other institutional investors have also adjusted their positions in Kinsale Capital Group. Westfield Capital Management Co. LP increased its stake by 65.3%, now owning 149,217 shares worth $69.47 million after acquiring 58,971 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake by 75.1%, with 133,975 shares valued at $62.38 million, following the addition of 57,460 shares. Similarly, International Assets Investment Management LLC significantly boosted its holdings by an astonishing 76,986.9%, raising their total to 47,023 shares worth about $21.89 million after buying an additional 46,962 shares. Erste Asset Management GmbH purchased a new position in the company valued at $18.60 million during the same period. Additionally, Point72 Asset Management L.P. invested roughly $8.39 million in Kinsale Capital earlier in the year. Overall, institutional investors own about 85.36% of Kinsale Capital Group.

Recent Analyst Ratings

A number of analysts have recently shared insights about Kinsale Capital Group. Truist Financial revised its price target down from $530.00 to $500.00 while maintaining a “buy” rating on the stock as of October 28th. Additionally, Morgan Stanley began coverage on Kinsale, setting an “overweight” rating and a target price of $593.00. BMO Capital Markets raised its target from $445.00 to $461.00, depicting a “market perform” rating in a note dated November 21st. Jefferies Financial Group also upgraded its target from $444.00 to $471.00 with a “hold” rating. On October 28th, Wolfe Research upgraded Kinsale from a “peer perform” to an “outperform” rating with a target of $535.00. Currently, seven analysts rate the stock as a hold while three view it as a buy. The consensus rating for Kinsale Capital is “Hold” with a price target set at $472.00 according to MarketBeat.

Insider Transactions

In other news related to Kinsale Capital, Director James Joseph Ritchie sold 2,295 shares on December 4th at an average price of $499.79, accumulating over $1.14 million from the transaction. Following this sale, he owns 7,348 shares valued at approximately $3.67 million, marking a 23.80% decrease in his holdings. Furthermore, Director Frederick L. Jr. Russell sold 4,440 shares on November 22nd for around $2.22 million, significantly reducing his ownership by 90.85%, now holding just 447 shares valued at $223,191.57. In the last quarter, insiders sold a total of 7,235 shares worth $3.62 million. Currently, insiders hold about 5.60% of Kinsale Capital’s total stock.

Kinsale Capital's Stock Performance

As of the latest trading session, Kinsale Capital Group (NYSE:KNSL) opened at $466.31. Over recent trading, the company has encountered a slight decline of 0.3%. The stock possesses a 50-day simple moving average of $475.83 and a 200-day simple moving average of $448.29. The market capitalization of Kinsale is approximately $10.86 billion, with a price-to-earnings ratio of 26.59 and a price-to-earnings growth ratio of 2.19, accompanied by a beta of 1.13. The stock has fluctuated between a 12-month low of $325.01 and a high of $548.47.

Kinsale Capital Group recently reported its earnings on October 24th, showing earnings per share (EPS) of $4.20, which surpassed expectations of $3.60 by $0.60. The company's return on equity was measured at 28.87%, with a net margin of 26.80%. Revenue for the quarter reached $418.06 million, outperforming analyst estimates of $359.43 million, representing a 33% growth compared to the same quarter last year. Analysts predict that Kinsale Capital will announce an EPS of 15.61 for the full year.

Dividend Announcement

Recently, Kinsale Capital Group declared a quarterly dividend, which was paid out on December 13th. Shareholders recorded on November 29th received a $0.15 per share dividend. The company's annualized dividend stands at $0.60, providing a yield of 0.13%. Kinsale’s dividend payout ratio is currently at 3.42%.

About Kinsale Capital Group

Kinsale Capital Group, Inc. is a specialty insurance provider dedicated to offering property and casualty insurance products in the United States. Their commercial lines encompass various sectors, including commercial property, casualty, excess and general casualty, construction, environmental, and healthcare insurance, among others.

Barclays, Kinsale, Stocks