Port Capital LLC Has $49.26 Million Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Port Capital LLC raised its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,813 shares of the financial services provider’s stock after buying an additional 300 shares during the quarter. Kinsale Capital Group accounts for approximately 2.2% of Port Capital LLC’s holdings, making the stock its 20th biggest holding. Port Capital LLC owned approximately 0.45% of Kinsale Capital Group worth $49,263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNSL. Geneva Capital Management LLC boosted its stake in Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after purchasing an additional 5,207 shares in the last quarter. Avior Wealth Management LLC raised its position in Kinsale Capital Group by 7,392.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 1,035 shares during the last quarter. Swedbank AB bought a new position in Kinsale Capital Group in the 2nd quarter valued at $15,430,000. QRG Capital Management Inc. acquired a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at $503,000. Finally, Bridges Investment Management Inc. bought a new stake in shares of Kinsale Capital Group during the second quarter worth $642,000. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 0.1 %

KNSL opened at $499.95 on Wednesday. The firm’s fifty day simple moving average is $467.78 and its 200 day simple moving average is $438.98. The stock has a market capitalization of $11.64 billion, a P/E ratio of 28.50, a P/E/G ratio of 2.14 and a beta of 1.13. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same quarter last year, the firm earned $3.31 EPS. Kinsale Capital Group’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, research analysts anticipate that Kinsale Capital Group, Inc. will post 15.52 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.42%.

Insider Buying and Selling at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the transaction, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on KNSL. Royal Bank of Canada lowered their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Truist Financial cut their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. BMO Capital Markets upped their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Jefferies Financial Group lifted their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $456.88.

About Kinsale Capital Group

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.