Granahan Investment Management LLC decreased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 16.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,516 shares of the financial services provider’s stock after selling 3,170 shares during the quarter. Granahan Investment Management LLC’s holdings in Kinsale Capital Group were worth $5,643,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Isthmus Partners LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $8,110,000. Life Cycle Investment Partners Ltd purchased a new position in shares of Kinsale Capital Group during the 4th quarter valued at approximately $229,653,000. Tudor Investment Corp ET AL lifted its position in shares of Kinsale Capital Group by 7,444.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock valued at $16,041,000 after buying an additional 37,221 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in Kinsale Capital Group by 37.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider’s stock valued at $81,382,000 after acquiring an additional 56,916 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in Kinsale Capital Group by 9.6% in the 4th quarter. Handelsbanken Fonder AB now owns 57,000 shares of the financial services provider’s stock worth $22,294,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.
Kinsale Capital Group Stock Up 4.9%
NYSE KNSL opened at $348.70 on Friday. The business has a fifty day moving average price of $321.17 and a 200 day moving average price of $349.35. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $512.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market cap of $8.04 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.07 and a beta of 0.90.
Kinsale Capital Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is 4.05%.
Kinsale Capital Group News Summary
Here are the key news stories impacting Kinsale Capital Group this week:
- Positive Sentiment: Kinsale delivered a major Q2 earnings beat, with both profit and revenue topping estimates and revenue rising 16.8% from a year ago. Article title: Kinsale Capital Group, Inc. (KNSL) Surpasses Q2 Earnings and Revenue Estimates
- Positive Sentiment: Higher underwriting income and investment income helped drive the quarter’s outperformance, signaling continued profitability strength. Article title: KNSL Q2 Earnings Beat on Higher Underwriting & Investment Income
- Positive Sentiment: The company authorized a new $337 million share buyback, which can support the stock by reducing share count and signaling confidence in capital strength. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market
- Neutral Sentiment: Commentary around Kinsale being a “strong momentum” and “top value” stock is supportive, but it is more of a ratings/market commentary theme than a direct operational catalyst. Article title: Here’s Why Kinsale Capital Group, Inc. (KNSL) is a Strong Momentum Stock
- Neutral Sentiment: Reports noting tougher competition and shrinking commercial property volume suggest some underwriting headwinds, but the market appears focused more on the earnings beat and buyback than on those pressures. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market
Wall Street Analyst Weigh In
A number of research firms have weighed in on KNSL. Morgan Stanley reduced their price objective 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. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Truist Financial cut their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Cantor Fitzgerald reduced their price target 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. Finally, TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $373.80.
Get Our Latest Stock Analysis on Kinsale Capital Group
Insider Transactions at Kinsale Capital Group
In other Kinsale Capital Group news, CAO Christopher R. Tangard acquired 330 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average price of $304.00 per share, with a total value of $100,320.00. Following the purchase, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. The trade was a 660.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the 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 completion of the sale, the insider owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. The trade was a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.
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.
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