Montanaro Asset Management Ltd Takes Position in Kinsale Capital Group, Inc. $KNSL

Montanaro Asset Management Ltd bought a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,800 shares of the financial services provider’s stock, valued at approximately $1,095,000.

A number of other institutional investors have also modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter valued at $25,000. Bayban acquired a new stake in Kinsale Capital Group during the 4th quarter worth $25,000. eCIO Inc. purchased a new position in Kinsale Capital Group during the 4th quarter worth $29,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group during the 4th quarter worth $29,000. Finally, Johnson Financial Group Inc. increased its stake in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KNSL. Wells Fargo & Company downgraded shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $420.00 to $357.00 in a research note on Monday, April 27th. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday. Cantor Fitzgerald reduced their price objective 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. Truist Financial reduced their price objective on 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. Finally, JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $374.90.

Insiders Place Their Bets

In other news, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares of the company’s stock, valued at $1,134,214.65. This trade represents a 6.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the chief accounting officer owned 380 shares of the company’s stock, valued at approximately $115,520. This represents a 660.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 5.60% of the stock is currently owned by insiders.

Kinsale Capital Group Stock Down 0.2%

KNSL stock opened at $308.19 on Friday. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $512.76. The stock has a market capitalization of $7.11 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. 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 fifty day moving average of $320.21 and a 200-day moving average of $358.19.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The business had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.71 earnings per share. As a group, analysts expect that Kinsale Capital Group, Inc. will post 20.65 EPS for the current year.

Kinsale Capital Group Announces Dividend

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

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.