Bennett Selby Investments LP Increases Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bennett Selby Investments LP raised its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 18.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,903 shares of the financial services provider’s stock after acquiring an additional 294 shares during the quarter. Bennett Selby Investments LP’s holdings in Kinsale Capital Group were worth $885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP lifted its holdings in Kinsale Capital Group by 65.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock worth $69,471,000 after purchasing an additional 58,971 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Kinsale Capital Group by 75.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock worth $62,375,000 after buying an additional 57,460 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Kinsale Capital Group by 76,986.9% in the third quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock valued at $21,892,000 after acquiring an additional 46,962 shares during the period. Erste Asset Management GmbH purchased a new position in Kinsale Capital Group during the third quarter valued at approximately $18,599,000. Finally, Janney Montgomery Scott LLC increased its holdings in Kinsale Capital Group by 655.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 35,362 shares of the financial services provider’s stock worth $16,448,000 after acquiring an additional 30,684 shares during the period. Institutional investors own 85.36% of the company’s stock.

Insider Activity

In other news, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now directly owns 7,348 shares of the company’s stock, valued at $3,672,456.92. The trade was a 23.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,235 shares of company stock worth $3,618,954 in the last quarter. 5.60% of the stock is owned by company insiders.

Kinsale Capital Group Price Performance

KNSL stock opened at $432.09 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $470.50 and its two-hundred day moving average price is $457.72. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.61 and a beta of 1.16. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $359.43 million. During the same quarter last year, the business posted $3.31 EPS. The business’s revenue was up 33.0% on a year-over-year basis. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 15.67 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Friday, November 29th. Kinsale Capital Group’s payout ratio is 3.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KNSL shares. Royal Bank of Canada reduced their price target on shares of 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. Morgan Stanley began coverage on Kinsale Capital Group in a report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. BMO Capital Markets lifted 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. Finally, Truist Financial cut their target price on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $468.89.

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.