Kinsale Capital Group, Inc. $KNSL Shares Bought by First Manhattan CO. LLC.

First Manhattan CO. LLC. grew its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 19.6% during the 4th quarter, HoldingsChannel reports. The firm owned 614,647 shares of the financial services provider’s stock after buying an additional 100,600 shares during the period. First Manhattan CO. LLC.’s holdings in Kinsale Capital Group were worth $240,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KNSL. Life Cycle Investment Partners Ltd acquired a new stake in Kinsale Capital Group during the 4th quarter worth $229,653,000. Capital World Investors boosted its position 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 acquiring an additional 533,499 shares during the last quarter. Norges Bank purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $107,916,000. M&T Bank Corp grew its holdings in shares of Kinsale Capital Group by 2,621.6% in the fourth quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock valued at $35,638,000 after purchasing an additional 87,770 shares during the period. Finally, Orion Porfolio Solutions LLC grew its holdings in shares of Kinsale Capital Group by 1,141.4% in the second quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock valued at $39,546,000 after purchasing an additional 75,141 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 1.2%

Shares of KNSL opened at $309.05 on Thursday. The firm has a market cap of $7.13 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.01 and a beta of 0.91. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $512.76. The company’s 50-day moving average price is $321.92 and its 200 day moving average price is $359.08. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The firm had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. Kinsale Capital Group’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.71 EPS. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $392.00 to $312.00 in a report on Thursday, March 19th. Wells Fargo & Company lowered shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $420.00 to $357.00 in a report on Monday, April 27th. Royal Bank Of Canada dropped their price objective on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Finally, Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $390.18.

Insider Activity at Kinsale Capital Group

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

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.