First Manhattan CO. LLC. Invests $18.67 Million in Kinsale Capital Group, Inc. (NYSE:KNSL)

First Manhattan CO. LLC. acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 40,140 shares of the financial services provider’s stock, valued at approximately $18,670,000. First Manhattan CO. LLC. owned approximately 0.17% of Kinsale Capital Group as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC grew its position in shares of Kinsale Capital Group by 34.4% during the third quarter. Barclays PLC now owns 11,772 shares of the financial services provider’s stock worth $5,480,000 after buying an additional 3,014 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Kinsale Capital Group by 14.3% during the 3rd quarter. Franklin Resources Inc. now owns 97,120 shares of the financial services provider’s stock valued at $45,869,000 after acquiring an additional 12,125 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Kinsale Capital Group by 7.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,195 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 157 shares during the last quarter. ORG Wealth Partners LLC increased its stake in shares of Kinsale Capital Group by 450.9% during the 4th quarter. ORG Wealth Partners LLC now owns 303 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 248 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in Kinsale Capital Group by 19.1% during the fourth quarter. Park Avenue Securities LLC now owns 2,670 shares of the financial services provider’s stock worth $1,242,000 after acquiring an additional 429 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on KNSL shares. Truist Financial cut their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, April 28th. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Morgan Stanley cut their price objective on Kinsale Capital Group from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $470.00.

Kinsale Capital Group Trading Down 0.5 %

NYSE:KNSL opened at $457.78 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $10.67 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29. Kinsale Capital Group, Inc. has a 12 month low of $366.92 and a 12 month high of $531.79. The firm’s 50 day moving average is $463.09 and its 200 day moving average is $461.48.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, topping the consensus estimate of $3.15 by $0.56. The company had revenue of $423.40 million during the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. Kinsale Capital Group’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.50 earnings per share. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Thursday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is 3.91%.

Kinsale Capital Group 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.