Isthmus Partners LLC Raises Stock Position in Kinsale Capital Group, Inc. $KNSL

Isthmus Partners LLC lifted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 24.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,841 shares of the financial services provider’s stock after acquiring an additional 5,105 shares during the quarter. Isthmus Partners LLC owned about 0.11% of Kinsale Capital Group worth $8,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bamco Inc. NY boosted its position in shares of Kinsale Capital Group by 1.4% in the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock worth $760,616,000 after buying an additional 24,796 shares during the period. Capital World Investors raised 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 buying an additional 533,499 shares during the period. First Manhattan CO. LLC. raised its holdings in shares of Kinsale Capital Group by 19.6% during the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after buying an additional 100,600 shares during the period. Life Cycle Investment Partners Ltd acquired a new position in Kinsale Capital Group during the 4th quarter worth approximately $229,653,000. Finally, DAVENPORT & Co LLC lifted its position in Kinsale Capital Group by 1.9% during the 4th quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock worth $208,443,000 after acquiring an additional 10,137 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. The trade was a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher R. Tangard acquired 330 shares of the business’s stock in a transaction on Monday, June 8th. The shares were purchased at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the purchase, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. This represents a 660.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 5.60% of the stock is owned by company insiders.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $345.85 on Thursday. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.13 and a beta of 0.90. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $314.52 and its two-hundred day moving average is $353.84. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $3.71 earnings per share. Analysts forecast that Kinsale Capital Group, Inc. will post 20.65 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.40%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company downgraded shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $420.00 to $357.00 in a research note on Monday, April 27th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Royal Bank Of Canada cut their price objective on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Finally, Morgan Stanley decreased their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of “Reduce” and a consensus price target of $374.90.

Kinsale Capital Group 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.