Spyglass Capital Management LLC Sells 2,227 Shares of Kinsale Capital Group, Inc. $KNSL

Spyglass Capital Management LLC lessened its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,385 shares of the financial services provider’s stock after selling 2,227 shares during the period. Kinsale Capital Group comprises 3.3% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Spyglass Capital Management LLC’s holdings in Kinsale Capital Group were worth $60,976,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Prudential PLC increased its holdings in Kinsale Capital Group by 1,078.9% during the 3rd quarter. Prudential PLC now owns 7,156 shares of the financial services provider’s stock worth $3,043,000 after purchasing an additional 6,549 shares in the last quarter. Comerica Bank lifted its holdings in shares of Kinsale Capital Group by 24.6% in the third quarter. Comerica Bank now owns 53,298 shares of the financial services provider’s stock valued at $22,665,000 after purchasing an additional 10,525 shares in the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Kinsale Capital Group by 7.7% in the third quarter. Nicolet Advisory Services LLC now owns 1,582 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 113 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Kinsale Capital Group by 3,093.8% during the third quarter. Brown Brothers Harriman & Co. now owns 511 shares of the financial services provider’s stock valued at $217,000 after buying an additional 495 shares during the last quarter. Finally, Johnson Financial Group Inc. boosted its position in shares of Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after buying an additional 54 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $362.76 on Friday. The business’s fifty day simple moving average is $389.19 and its 200 day simple moving average is $406.23. The firm has a market capitalization of $8.40 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. Kinsale Capital Group, Inc. has a 12 month low of $341.06 and a 12 month high of $512.76. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.51. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.The business had revenue of $483.27 million for the quarter, compared to analysts’ expectations of $467.66 million. During the same quarter in the previous year, the firm earned $4.62 earnings per share. As a group, analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were issued a $0.25 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s payout ratio is presently 4.61%.

Kinsale Capital Group announced that its Board of Directors has approved a stock repurchase program on Thursday, December 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

KNSL has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $433.00 price target on shares of Kinsale Capital Group in a research report on Friday, February 13th. Wall Street Zen downgraded shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Cantor Fitzgerald lowered their target price on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Finally, Wells Fargo & Company started coverage on shares of Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price target on the stock. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $441.91.

About Kinsale Capital Group

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.