Is it Worthy to Acquire Kinsale Capital (KNSL) Shares?

Richie Capital Group, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. For the second quarter of 2022, the RCG Long Only strategy declined 14% and the RCG Long Short strategy declined 1.9% while their respective benchmarks the Russell 2500 Index and Equity Long Short Index declined 17.0% and 12.3% respectively. Year to date, the fund’s strategies are roughly in line with their benchmarks with the Long Short strategy trailing its index. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Richie Capital Group mentioned Kinsale Capital Group, Inc. (NASDAQ:KNSL) and explained its insights for the company. Founded in 2009, Kinsale Capital Group, Inc. (NASDAQ:KNSL) is a Richmond, Virginia-based insurance company with a $5.0 billion market capitalization. Kinsale Capital Group, Inc. (NASDAQ:KNSL) delivered a -7.73% return since the beginning of the year, while its 12-month returns are up by 31.81%. The stock closed at $219.51 per share on July 18, 2022.

Here is what Richie Capital Group has to say about Kinsale Capital Group, Inc. (NASDAQ:KNSL) in its Q2 2022 investor letter:

“Kinsale Capital (NASDAQ:KNSL) is a pure-play insurer in the excess and surplus insurance market. KNSL focuses on hard-to assess business risks, and they are the best in their industry as evidenced by their market leading combined ratio. They are the rare insurer that has achieved strong premium growth while maintaining margins.”

Iakov Filimonov/Shutterstock.com

Our calculations show that Kinsale Capital Group, Inc. (NASDAQ:KNSL) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Kinsale Capital Group, Inc. (NASDAQ:KNSL) was in 18 hedge fund portfolios at the end of the second quarter of 2022, compared to 17 funds in the previous quarter. Kinsale Capital Group, Inc. (NASDAQ:KNSL) delivered a -2.97% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.