Oak Ridge Investments LLC Sells 311 Shares of Kinsale Capital Group, Inc. $KNSL

Oak Ridge Investments LLC decreased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,637 shares of the financial services provider’s stock after selling 311 shares during the quarter. Oak Ridge Investments LLC’s holdings in Kinsale Capital Group were worth $4,663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC bought a new position in Kinsale Capital Group during the first quarter valued at $125,003,000. First Manhattan CO. LLC. lifted its position in Kinsale Capital Group by 401.4% during the first quarter. First Manhattan CO. LLC. now owns 201,272 shares of the financial services provider’s stock valued at $97,961,000 after purchasing an additional 161,132 shares during the last quarter. Madison Asset Management LLC bought a new position in Kinsale Capital Group during the first quarter valued at $76,235,000. JPMorgan Chase & Co. lifted its position in Kinsale Capital Group by 39.8% during the first quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider’s stock valued at $224,204,000 after purchasing an additional 131,056 shares during the last quarter. Finally, Giverny Capital Inc. lifted its position in Kinsale Capital Group by 87.3% during the first quarter. Giverny Capital Inc. now owns 169,967 shares of the financial services provider’s stock valued at $82,725,000 after purchasing an additional 79,208 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KNSL shares. Compass Point increased their price objective on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Bank of America assumed coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They issued a “buy” rating and a $543.00 target price on the stock. Morgan Stanley reduced their target price on shares of Kinsale Capital Group from $525.00 to $500.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Truist Financial increased their target price on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $506.89.

Kinsale Capital Group Trading Down 1.4%

Shares of KNSL opened at $469.89 on Friday. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The company has a 50-day moving average of $445.23 and a 200 day moving average of $460.72. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The company had revenue of $458.70 million during the quarter, compared to analyst estimates of $436.25 million. During the same quarter last year, the business posted $3.75 EPS. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.1%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.55%.

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.