Giverny Capital Inc. Boosts Holdings in Kinsale Capital Group, Inc. $KNSL

Giverny Capital Inc. lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 214,264 shares of the financial services provider’s stock after purchasing an additional 23,802 shares during the period. Kinsale Capital Group accounts for about 2.8% of Giverny Capital Inc.’s investment portfolio, making the stock its 16th biggest holding. Giverny Capital Inc.’s holdings in Kinsale Capital Group were worth $83,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $25,000. eCIO Inc. purchased a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $29,000. International Assets Investment Management LLC purchased a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $29,000. Johnson Financial Group Inc. lifted its position 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 worth $32,000 after purchasing an additional 54 shares during the period. Finally, Larson Financial Group LLC lifted its position 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 worth $33,000 after purchasing an additional 54 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on KNSL. Cantor Fitzgerald dropped their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Morgan Stanley dropped their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Jefferies Financial Group cut shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $392.00 to $312.00 in a research report on Thursday, March 19th. Wells Fargo & Company cut shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $420.00 to $357.00 in a research report on Monday, April 27th. Finally, Royal Bank Of Canada dropped their target price on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $390.18.

Kinsale Capital Group Trading Up 0.2%

Shares of NYSE KNSL opened at $311.29 on Friday. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $512.76. The stock has a market cap of $7.18 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.01 and a beta of 0.91. The firm has a 50-day moving average of $323.98 and a 200 day moving average of $360.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

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

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.40%.

Insider Activity at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. This trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the transaction, the insider directly owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by corporate insiders.

About Kinsale Capital Group

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.