Giverny Capital Inc. Acquires 21,789 Shares of Kinsale Capital Group, Inc. $KNSL

Giverny Capital Inc. grew its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,731 shares of the financial services provider’s stock after purchasing an additional 21,789 shares during the quarter. Kinsale Capital Group comprises about 2.7% of Giverny Capital Inc.’s investment portfolio, making the stock its 16th biggest position. Giverny Capital Inc.’s holdings in Kinsale Capital Group were worth $79,395,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bayban acquired a new stake in shares of Kinsale Capital Group in the fourth quarter worth about $25,000. International Assets Investment Management LLC acquired a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $29,000. Johnson Financial Group Inc. raised its stake in shares of Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 54 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Kinsale Capital Group by 225.0% in the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 54 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Kinsale Capital Group in the 2nd quarter valued at approximately $38,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings upgraded shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Finally, Wells Fargo & Company increased their target price 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. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of “Reduce” and an average price target of $368.78.

Kinsale Capital Group Stock Down 0.1%

KNSL opened at $372.86 on Monday. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.18 and a beta of 0.89. 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 firm’s 50-day simple moving average is $361.07 and its 200-day simple moving average is $344.17. Kinsale Capital Group, Inc. has a twelve month low of $287.20 and a twelve month high of $485.00.

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

Kinsale Capital Group Announces Dividend

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