Kinsale Capital Group, Inc. $KNSL is Turtle Creek Asset Management Inc.’s 6th Largest Position

Turtle Creek Asset Management Inc. grew its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 47.6% during the 1st quarter, HoldingsChannel reports. The fund owned 411,246 shares of the financial services provider’s stock after acquiring an additional 132,576 shares during the quarter. Kinsale Capital Group makes up 5.2% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 6th biggest position. Turtle Creek Asset Management Inc.’s holdings in Kinsale Capital Group were worth $140,506,000 at the end of the most recent quarter.

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

Kinsale Capital Group Price Performance

KNSL stock opened at $376.57 on Thursday. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.17 and a beta of 0.90. The firm’s 50-day moving average price is $324.31 and its two-hundred day moving average price is $348.29. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $485.00.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. Kinsale Capital Group’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.78 earnings per share. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 21.11 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is presently 4.05%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KNSL shares. Wells Fargo & Company raised their price objective on Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. boosted their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Truist Financial reduced their price target on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Royal Bank Of Canada decreased their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $362.11.

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.