Ballentine Partners LLC Invests $283,000 in Kinsale Capital Group, Inc. (NYSE:KNSL)

Ballentine Partners LLC acquired a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 540 shares of the financial services provider’s stock, valued at approximately $283,000.

A number of other large investors have also made changes to their positions in the stock. Congress Asset Management Co. MA lifted its holdings in Kinsale Capital Group by 50.9% in the 1st quarter. Congress Asset Management Co. MA now owns 17,248 shares of the financial services provider’s stock valued at $9,051,000 after purchasing an additional 5,815 shares in the last quarter. Park Avenue Securities LLC boosted its position in Kinsale Capital Group by 16.8% during the first quarter. Park Avenue Securities LLC now owns 3,455 shares of the financial services provider’s stock worth $1,813,000 after acquiring an additional 498 shares during the last quarter. Rise Advisors LLC grew its stake in Kinsale Capital Group by 17.5% in the 1st quarter. Rise Advisors LLC now owns 181 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 27 shares during the period. Mather Group LLC. acquired a new position in Kinsale Capital Group in the 1st quarter valued at $72,000. Finally, Leibman Financial Services Inc. lifted its stake in shares of Kinsale Capital Group by 1.9% during the 1st quarter. Leibman Financial Services Inc. now owns 4,310 shares of the financial services provider’s stock worth $2,261,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on KNSL. BMO Capital Markets dropped their target price on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Compass Point decreased their target price on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $425.00 target price (down from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. TD Cowen initiated coverage on shares of Kinsale Capital Group in a research note on Monday, May 20th. They set a “hold” rating and a $403.00 price target on the stock. Finally, Truist Financial dropped their price objective on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a report on Monday, April 29th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Kinsale Capital Group has a consensus rating of “Hold” and an average target price of $434.00.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $385.19 on Wednesday. The company has a market cap of $8.97 billion, a P/E ratio of 25.59 and a beta of 1.07. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47. The business’s 50-day simple moving average is $394.53 and its 200 day simple moving average is $419.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. The business had revenue of $372.79 million for the quarter, compared to analysts’ expectations of $366.45 million. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 earnings per share. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 14.94 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Insider Activity

In related news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the transaction, the chief operating officer now owns 95,850 shares in the company, valued at $35,247,879. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

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.