94,240 Shares in Kinsale Capital Group, Inc. $KNSL Purchased by Port Capital LLC

Port Capital LLC acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 94,240 shares of the financial services provider’s stock, valued at approximately $31,081,000. Kinsale Capital Group accounts for about 1.3% of Port Capital LLC’s holdings, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KNSL. Caisse de depot et placement du Quebec bought a new position in Kinsale Capital Group in the 2nd quarter worth about $26,289,000. Odyssean LLC raised its holdings in shares of Kinsale Capital Group by 141.3% during the second quarter. Odyssean LLC now owns 9,547 shares of the financial services provider’s stock valued at $3,149,000 after buying an additional 5,591 shares during the last quarter. Man Group plc bought a new stake in shares of Kinsale Capital Group during the second quarter valued at approximately $6,125,000. Jupiter Topco LLC acquired a new position in shares of Kinsale Capital Group during the second quarter worth approximately $3,211,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Kinsale Capital Group during the second quarter worth approximately $10,035,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KNSL has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price objective on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. JPMorgan Chase & Co. increased their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Morgan Stanley increased their price target on Kinsale Capital Group from $345.00 to $390.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Finally, TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $368.78.

Insider Activity

In other Kinsale Capital Group news, CAO Christopher R. Tangard bought 330 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the acquisition, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group Stock Down 0.1%

Shares of KNSL stock opened at $387.61 on Thursday. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $485.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The business’s fifty day moving average is $351.48 and its 200-day moving average is $344.96. The stock has a market cap of $8.83 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.23 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The business had revenue of $548.52 million during the quarter, compared to analysts’ expectations of $445.13 million. During the same quarter last year, the business posted $4.78 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts expect that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s payout ratio is currently 4.05%.

Kinsale Capital Group Company 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.