Kinsale Capital Group, Inc. $KNSL Stake Reduced by Spyglass Capital Management LLC

Spyglass Capital Management LLC trimmed its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 30.5% in the first quarter, Holdings Channel.com reports. The fund owned 137,029 shares of the financial services provider’s stock after selling 60,157 shares during the period. Kinsale Capital Group comprises 3.3% of Spyglass Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Spyglass Capital Management LLC’s holdings in Kinsale Capital Group were worth $46,817,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in KNSL. Bayban acquired a new position in shares of Kinsale Capital Group in the 4th quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in Kinsale Capital Group during the fourth quarter valued at approximately $25,000. eCIO Inc. acquired a new stake in Kinsale Capital Group during the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new stake in Kinsale Capital Group during the fourth quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. boosted its holdings in Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after buying an additional 54 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Insider Buying and Selling at Kinsale Capital Group

In related news, CAO Christopher R. Tangard purchased 330 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the purchase, the chief accounting officer owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $370.19 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.15 and a beta of 0.90. The company has a 50 day simple moving average of $323.01 and a 200-day simple moving average of $348.54. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. The firm had revenue of $548.52 million for 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 revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.78 earnings per share. Equities research analysts predict that Kinsale Capital Group, Inc. will post 20.92 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.05%.

Wall Street Analysts Forecast Growth

KNSL has been the topic of several research reports. Wells Fargo & Company upped their price target on Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a report on Monday. Royal Bank Of Canada reduced their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Cantor Fitzgerald decreased their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Morgan Stanley cut their target price on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Finally, Truist Financial reduced their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $362.11.

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.