Griffin Asset Management Inc. Buys Shares of 489 Kinsale Capital Group, Inc. (NYSE:KNSL)

Griffin Asset Management Inc. bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 489 shares of the financial services provider’s stock, valued at approximately $257,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Anchor Investment Management LLC purchased a new stake in Kinsale Capital Group in the fourth quarter worth about $25,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Kinsale Capital Group in the 4th quarter worth approximately $33,000. Beacon Capital Management LLC bought a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $33,000. Quarry LP bought a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $40,000. Finally, Principal Securities Inc. purchased a new position in Kinsale Capital Group during the fourth quarter valued at approximately $44,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KNSL. Truist Financial dropped their target price on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Compass Point dropped their price objective on 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. TD Cowen initiated coverage on shares of Kinsale Capital Group in a report on Monday, May 20th. They issued a “hold” rating and a $403.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Finally, BMO Capital Markets cut their price objective on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of “Hold” and a consensus target price of $434.00.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, COO Brian D. Haney sold 3,778 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the transaction, the chief operating officer now directly owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is owned by insiders.

Kinsale Capital Group Trading Down 0.3 %

NYSE KNSL opened at $385.28 on Friday. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47. The company has a fifty day simple moving average of $390.44 and a two-hundred day simple moving average of $419.89. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. The stock has a market cap of $8.97 billion, a P/E ratio of 25.60 and a beta of 1.07.

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

Kinsale Capital Group Dividend Announcement

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

Kinsale Capital Group Company Profile

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.