Lisanti Capital Growth LLC Makes New $4.96 Million Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

Lisanti Capital Growth LLC bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,455 shares of the financial services provider’s stock, valued at approximately $4,961,000.

A number of other institutional investors also recently modified their holdings of KNSL. Anchor Investment Management LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $25,000. Beacon Capital Management LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $33,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $33,000. Quarry LP acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $40,000. Finally, Principal Securities Inc. acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $44,000. 85.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KNSL has been the subject of several analyst reports. Truist Financial lowered their price target on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a research report on Monday, April 29th. TD Cowen started coverage on shares of Kinsale Capital Group in a report on Monday, May 20th. They set a “hold” rating and a $403.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a report on Thursday. BMO Capital Markets decreased their price objective on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Finally, Compass Point decreased their price objective on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $434.00.

Kinsale Capital Group Stock Up 2.0 %

Shares of KNSL stock traded up $7.66 during trading hours on Friday, hitting $389.49. 125,664 shares of the company were exchanged, compared to its average volume of 128,249. The business has a 50 day moving average of $385.51 and a two-hundred day moving average of $422.45. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47. The company has a market capitalization of $9.07 billion, a PE ratio of 25.88 and a beta of 1.06.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The company had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The firm’s revenue was up 41.7% compared to the same quarter last year. Analysts anticipate that Kinsale Capital Group, Inc. will post 14.93 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Friday, May 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Friday, May 31st. Kinsale Capital Group’s payout ratio is 3.99%.

Insider Buying and Selling

In related news, COO Brian D. Haney sold 3,778 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the transaction, the chief operating officer now owns 95,850 shares in the company, valued at $35,247,879. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.