Port Capital LLC Has $49.26 Million Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Port Capital LLC boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.3% during the third quarter, Holdings Channel reports. The institutional investor owned 105,813 shares of the financial services provider’s stock after buying an additional 300 shares during the period. Kinsale Capital Group comprises approximately 2.2% of Port Capital LLC’s investment portfolio, making the stock its 20th biggest position. Port Capital LLC’s holdings in Kinsale Capital Group were worth $49,263,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Geneva Capital Management LLC grew its position in shares of Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after purchasing an additional 5,207 shares during the last quarter. Avior Wealth Management LLC increased its position in Kinsale Capital Group by 7,392.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock worth $488,000 after buying an additional 1,035 shares during the period. Swedbank AB bought a new stake in shares of Kinsale Capital Group in the second quarter valued at about $15,430,000. QRG Capital Management Inc. acquired a new position in shares of Kinsale Capital Group in the second quarter valued at about $503,000. Finally, Bridges Investment Management Inc. bought a new position in Kinsale Capital Group during the second quarter worth about $642,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. dropped their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Truist Financial reduced their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Royal Bank of Canada dropped their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $456.88.

Kinsale Capital Group Stock Up 0.1 %

Kinsale Capital Group stock opened at $499.95 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a 1-year low of $325.01 and a 1-year high of $548.47. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 2.14 and a beta of 1.13. The firm has a 50 day simple moving average of $467.78 and a 200 day simple moving average of $438.98.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. The business had revenue of $418.06 million during the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. Kinsale Capital Group’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.31 earnings per share. On average, analysts predict that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

Insider Activity at Kinsale Capital Group

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total value of $2,216,936.40. Following the sale, the director now directly owns 447 shares of the company’s stock, valued at approximately $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.60% of the stock is owned by company insiders.

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.