Granahan Investment Management LLC Buys 4,064 Shares of Kinsale Capital Group, Inc. $KNSL

Granahan Investment Management LLC boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 26.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,686 shares of the financial services provider’s stock after purchasing an additional 4,064 shares during the quarter. Granahan Investment Management LLC’s holdings in Kinsale Capital Group were worth $7,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vident Advisory LLC boosted its stake in Kinsale Capital Group by 2.9% in the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 23 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in Kinsale Capital Group by 3.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 28 shares during the period. Smartleaf Asset Management LLC boosted its stake in Kinsale Capital Group by 20.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 28 shares during the period. Signaturefd LLC boosted its stake in Kinsale Capital Group by 39.0% in the 4th quarter. Signaturefd LLC now owns 107 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 30 shares during the period. Finally, CWM LLC boosted its stake in Kinsale Capital Group by 5.3% in the 4th quarter. CWM LLC now owns 592 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 30 shares during the period. Institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on KNSL. Cantor Fitzgerald cut their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and lowered their price target for the company from $392.00 to $312.00 in a report on Thursday, March 19th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday. Wall Street Zen cut Kinsale Capital Group from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Wells Fargo & Company cut Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $420.00 to $357.00 in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and an average price target of $390.18.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $312.59 on Wednesday. The business’s 50-day moving average price is $322.67 and its two-hundred day moving average price is $359.59. Kinsale Capital Group, Inc. has a twelve month low of $287.20 and a twelve month high of $512.76. The stock has a market cap of $7.21 billion, a P/E ratio of 13.76, a PEG ratio of 1.01 and a beta of 0.91. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

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

Kinsale Capital Group Dividend Announcement

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

Insider Activity at Kinsale Capital Group

In other news, CAO Christopher R. Tangard acquired 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were bought at an average cost of $304.00 per share, with a total value of $100,320.00. Following the acquisition, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is currently owned by insiders.

Kinsale Capital Group Profile

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.