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Kinsale Capital (KNSL)

Kinsale Capital Group, Inc. is a specialty insurance group headquartered in Richmond, Virginia, focusing on the excess and surplus lines market.

Company profile

Ticker
KNSL
Exchange
CEO
Michael Kehoe
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Kinsale Insurance Company • Kinsale Management, Inc. • Aspera Insurance Services, Inc. • Kinsale Real Estate, Inc. • 2001 Maywill, LLC ...

KNSL stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
2 long holdings
End of quarter 30 Jun 22
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$61.55M 326.31K 338.13K -3.5
$38.65M 380.05K 376.9K +0.8
Holdings list only includes long positions. Only includes long positions.

Calendar

28 Jul 22
29 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 120.89M 120.89M 120.89M 120.89M 120.89M 120.89M
Cash burn (monthly) (no burn) 592.92K (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 1.78M n/a n/a n/a n/a
Cash remaining n/a 119.11M n/a n/a n/a n/a
Runway (months of cash) n/a 200.9 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Sep 22 Michael P Kehoe Common Stock, par value $0.01 per share Sell Dispose S No Yes 253.13 3,500 885.96K 314,941
6 Sep 22 Michael P Kehoe Common Stock, par value $0.01 per share Option exercise Acquire M No No 16 3,500 56K 318,441
6 Sep 22 Michael P Kehoe Options Common Stock, par value $0.01 per share Option exercise Dispose M No No 16 3,500 56K 50,076
17 Aug 22 Robert Lippincott III Common Stock, par value $0.01 per share Sell Dispose S No No 281.55 335 94.32K 10,917
17 Aug 22 Robert Lippincott III Common Stock, par value $0.01 per share Sell Dispose S No No 280.41 403 113.01K 11,252
17 Aug 22 Petrucelli Bryan P. Common Stock, par value $0.01 per share Sell Dispose S No No 281.05 200 56.21K 59,146
17 Aug 22 Petrucelli Bryan P. Common Stock, par value $0.01 per share Sell Dispose S No No 280.19 4,800 1.34M 59,346
17 Aug 22 Petrucelli Bryan P. Common Stock, par value $0.01 per share Option exercise Acquire M No No 16 5,000 80K 64,146
17 Aug 22 Petrucelli Bryan P. Option Common Stock, par value $0.01 per share Option exercise Dispose M No No 16 5,000 80K 30,100
10 Aug 22 Haney Brian D. Common Stock, par value $0.01 per share Sell Dispose S No Yes 265 750 198.75K 88,086
83.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 308 306 +0.7%
Opened positions 40 43 -7.0%
Closed positions 38 37 +2.7%
Increased positions 126 110 +14.5%
Reduced positions 83 100 -17.0%
13F shares Current Prev Q Change
Total value 4.42B 4.33B +2.2%
Total shares 19.23M 18.96M +1.4%
Total puts 25.9K 58.6K -55.8%
Total calls 29.6K 43.7K -32.3%
Total put/call ratio 0.9 1.3 -34.7%
Largest owners Shares Value Change
BLK Blackrock 2.31M $530.07M +0.3%
Vanguard 2.22M $510.83M -0.1%
Bamco 2.15M $493.24M +1.6%
Thrivent Financial For Lutherans 870.89K $199.99M -0.8%
STT State Street 719.85K $165.31M +0.9%
JPM JPMorgan Chase & Co. 695.62K $159.74M -14.7%
Geneva Capital Management 644.08K $147.91M -1.1%
Geode Capital Management 459.6K $105.54M +9.0%
MCQEF Macquarie 446.63K $102.56M +33.5%
Alliancebernstein 421.44K $96.78M -10.7%
Largest transactions Shares Bought/sold Change
JPM JPMorgan Chase & Co. 695.62K -119.76K -14.7%
Capital World Investors 257.62K +113.5K +78.8%
MCQEF Macquarie 446.63K +112.06K +33.5%
Loomis Sayles & Co L P 189.57K +78.61K +70.8%
MS Morgan Stanley 167.6K +72.87K +76.9%
WFC Wells Fargo & Co. 42.24K -68.97K -62.0%
NFJ Investment 200.99K -66.32K -24.8%
SEIC SEI Investments 87.46K +63.84K +270.3%
Driehaus Capital Management 315.95K +56.76K +21.9%
Alliancebernstein 421.44K -50.53K -10.7%

Financial report summary

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Risks
  • Our loss reserves may be inadequate to cover our actual losses, which could have a material adverse effect on our financial condition, results of operations and cash flows.
  • Given the inherent uncertainty of models, the usefulness of such models as a tool to evaluate risk is subject to a high degree of uncertainty that could result in actual losses that are materially different than our estimates, including PMLs. A deviation from our loss estimates may adversely impact, perhaps significantly, our financial results.
  • The failure of any of the loss limitations or exclusions we employ, or changes in other claims or coverage issues, could have a material adverse effect on our financial condition or results of operations.
  • We may be unable to obtain reinsurance coverage at reasonable prices or on terms that adequately protect us.
  • Severe weather conditions, catastrophes, pandemics and similar events may adversely affect our business, results of operations and financial condition.
  • Global climate change may have a material adverse effect on our financial results.
  • Adverse economic factors, including recession, inflation, periods of high unemployment or lower economic activity could result in the sale of fewer policies than expected or an increase in frequency or severity of claims and premium defaults or both, which, in turn, could affect our growth and profitability.
  • A decline in our financial strength rating may adversely affect the amount of business we write.
  • We could be adversely affected by the loss of one or more key executives or by an inability to attract and retain qualified personnel.
  • We rely on a select group of brokers, and such relationships may not continue.
  • Our E&S insurance operations are subject to increased risk from changing market conditions and our business is cyclical in nature, which may affect our financial performance.
  • Our employees could take excessive risks, which could negatively affect our financial condition and business.
  • Competition for business in our industry is intense.
  • If we are unable to underwrite risks accurately and charge competitive yet profitable rates to our policyholders, our business, financial condition and results of operations will be adversely affected.
  • Because our business depends on insurance brokers, we are exposed to certain risks arising out of our reliance on these distribution channels that could adversely affect our results.
  • We are subject to reinsurance counterparty credit risk.
  • We may act based on inaccurate or incomplete information regarding the accounts we underwrite.
  • The failure of our information technology and telecommunications systems could materially adversely affect our business.
  • We employ third-party and open source licensed software for use in our business, and the inability to maintain these licenses, errors in the software we license or the terms of open source licenses could result in increased costs, or reduced service levels, which would adversely affect our business.
  • Cloud provider service failure or control weakness could adversely affect our business.
  • We may change our underwriting guidelines or our strategy without stockholder approval.
  • If actual renewals of our existing contracts do not meet expectations, our written premiums in future years and our future results of operations could be materially adversely affected.
  • Our failure to accurately and timely pay claims could materially and adversely affect our business, financial condition, results of operations and prospects.
  • The effects of litigation on our business are uncertain and could have an adverse effect on our business.
  • Performance of our investment portfolio is subject to a variety of investment risks that may adversely affect our financial results.
  • Because we are a holding company and substantially all of our operations are conducted by our insurance subsidiary, our ability to pay dividends depends on our ability to obtain cash dividends or other permitted payments from our insurance subsidiary.
  • We could be forced to sell investments to meet our liquidity requirements.
  • We may require additional capital in the future, which may not be available or may only be available on unfavorable terms.
  • We are subject to extensive regulation, which may adversely affect our ability to achieve our business objectives. In addition, if we fail to comply with these regulations, we may be subject to penalties, including fines and suspensions, which may adversely affect our financial condition and results of operations.
  • We may become subject to additional government or market regulation.
Management Discussion
  • Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
  • The discussion and analysis below include certain forward-looking statements that are subject to risks, uncertainties and other factors described in "Risk Factors" in this Quarterly Report on Form 10-Q and in the Annual Report on Form 10-K for the year ended December 31, 2021. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of many factors.
  • References to the "Company," "Kinsale," "we," "us," and "our" are to Kinsale Capital Group, Inc. and its subsidiaries, unless the context otherwise requires.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: agent, attached, bank, Chase, daily, earlier, extended, Fee, fell, JPMorgan, moved, pari, passu, PGIM, promissory, Prudential, rank, redeem, refinance, repay, Restated, routine, satisfying, Schedule, SOFR, syndication, thereunder, Truist
Removed: deductible, emerging, March, positive, resulted, single