Hsbc Holdings PLC Purchases Shares of 30,161 Kinsale Capital Group, Inc. $KNSL

Hsbc Holdings PLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the second quarter, Holdings Channel reports. The firm purchased 30,161 shares of the financial services provider’s stock, valued at approximately $10,035,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bamco Inc. NY purchased a new stake in Kinsale Capital Group during the second quarter valued at approximately $878,600,000. BlackRock Inc. acquired a new position in shares of Kinsale Capital Group during the second quarter worth $671,457,000. Life Cycle Investment Partners Ltd acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth $229,653,000. Capital World Investors lifted its holdings in shares of 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. Finally, Norges Bank purchased a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $107,916,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $359.49 on Thursday. The firm has a market capitalization of $8.19 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $485.00. The company’s fifty day moving average price is $362.92 and its 200-day moving average price is $343.95.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.43. The firm had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.78 EPS. On average, equities research analysts predict that Kinsale Capital Group, Inc. will post 21.1 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is currently 4.05%.

Analysts Set New Price Targets

Several research analysts recently weighed in on KNSL shares. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Wells Fargo & Company raised their price target 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. Weiss Ratings raised Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Morgan Stanley upped their price objective on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Kinsale Capital Group currently has an average rating of “Reduce” and an average target price 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.