Barclays PLC Increases Stake in Kinsale Capital Group

Barclays PLC has significantly increased its investment in Kinsale Capital Group, Inc. (NYSE:KNSL) during the third quarter, marking a 34.4% rise in its holdings. According to the latest 13F filing submitted to the Securities and Exchange Commission (SEC), Barclays now owns 11,772 shares of Kinsale Capital, having acquired an additional 3,014 shares in the recent quarter. As of the end of this period, Barclays' stake is valued at approximately $5.48 million, representing about 0.05% of Kinsale Capital Group's total shares.

A variety of large institutional investors have also adjusted their positions in Kinsale Capital Group. For instance, Westfield Capital Management Co. LP has increased its holdings by 65.3%, owning 149,217 shares valued at around $69.47 million after acquiring 58,971 additional shares. Similarly, Allspring Global Investments Holdings LLC boosted its stake by 75.1%, bringing its total to 133,975 shares worth $62.37 million following a purchase of 57,460 shares. International Assets Investment Management LLC notably increased its holdings by an astounding 76,986.9%, now having 47,023 shares valued at $21.89 million after acquiring 46,962 shares. Erste Asset Management GmbH also initiated a new position worth $18.6 million in Kinsale Capital, while Point72 Asset Management L.P. invested approximately $8.39 million during the previous quarter. Overall, institutional investors hold around 85.36% of Kinsale Capital's stock.

Recent Analyst Ratings

Recent activity among analysts regarding Kinsale Capital Group has revealed various opinions. Truist Financial has reduced its price target on Kinsale from $530.00 to $500.00, maintaining a “buy” rating. Meanwhile, Morgan Stanley began coverage on the company with an “overweight” rating and a price target of $593.00. BMO Capital Markets increased its price target from $445.00 to $461.00, assigning a “market perform” rating. Jefferies Financial Group also revised its target price from $444.00 to $471.00 and maintained a “hold” rating. Wolfe Research has upgraded its rating for Kinsale from “peer perform” to “outperform,” setting a target price of $535.00. In total, seven research analysts have issued a hold rating, while three analysts recommend buying the stock. The current consensus rating for Kinsale Capital Group is “Hold,” with an average price target of $472.00.

Insider Trading Activities

In insider trading developments, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital stock on December 4th. The shares were sold at an average price of $499.79, amounting to a transaction total of $1,147,018.05. Following the sale, Ritchie now holds 7,348 shares valued at approximately $3.67 million, representing a decrease of 23.80% in his ownership. Another director, Frederick L. Jr. Russell, sold 4,440 shares priced at an average of $499.31 on November 22nd, totaling $2,216,936.40. After this transaction, Russell holds 447 shares worth $223,191.57, marking a 90.85% reduction in his position. Over the last quarter, insiders have collectively sold 7,235 shares valued at about $3.62 million, with company insiders owning 5.60% of Kinsale Capital’s stock.

Kinsale Capital Group's Stock Performance

Kinsale Capital Group's shares have recently shown slight fluctuations. On Friday, the stock opened at $466.31. The company's stock has a 50-day simple moving average of $475.83 and a 200-day simple moving average of $448.29. With a market capitalization of $10.86 billion, the company has a price-to-earnings (PE) ratio of 26.59 and a price-to-earnings-growth (PEG) ratio of 2.19. It has a beta of 1.13, indicating its volatility in comparison to the overall market. This company's shares have seen a yearly low of $325.01 and a high of $548.47.

Kinsale Capital Group recently reported its quarterly earnings on October 24th, showcasing earnings per share (EPS) of $4.20. This figure surpassed analysts' expectations of $3.60 by $0.60. The company achieved a return on equity of 28.87% and a net margin of 26.80%. Overall, Kinsale generated revenues of $418.06 million, exceeding market expectations of $359.43 million, reflecting a 33.0% increase compared to the previous year. Analysts project that Kinsale Capital Group will post an EPS of $15.61 for the current fiscal year.

Dividend Announcement

In terms of returns for shareholders, Kinsale Capital Group has issued a quarterly dividend, which was disbursed on December 13th. Investors listed on record as of November 29th received a dividend payment of $0.15 per share, amounting to an annualized dividend of $0.60, resulting in a yield of 0.13%. At present, the company's dividend payout ratio stands at 3.42%.

Overview of Kinsale Capital Group

Kinsale Capital Group, Inc. is recognized as a specialty insurance provider focusing on property and casualty insurance products within the United States. Its offerings encompass various commercial lines, including property insurance, casualty insurance, general liability, construction, and several other sectors such as health care and entertainment.

Barclays, Investment, Kinsale, Finance, Stocks