Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 39.7% in the fourth quarter, HoldingsChannel reports. The firm owned 521 shares of the financial services provider’s stock after buying an additional 148 shares during the period. GAMMA Investing LLC’s holdings in Kinsale Capital Group were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its stake in shares of Kinsale Capital Group by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider’s stock worth $281,065,000 after purchasing an additional 6,331 shares during the period. State Street Corp boosted its holdings in Kinsale Capital Group by 1.3% during the third quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock worth $320,957,000 after buying an additional 8,954 shares in the last quarter. Geode Capital Management LLC grew its position in Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after buying an additional 29,686 shares during the period. Geneva Capital Management LLC increased its holdings in 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 buying an additional 5,207 shares in the last quarter. Finally, Copeland Capital Management LLC raised its position in shares of Kinsale Capital Group by 0.3% in the third quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider’s stock worth $107,687,000 after acquiring an additional 685 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the sale, the executive vice president now owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 447 shares of the company’s stock, valued at $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,235 shares of company stock worth $3,618,954 in the last quarter. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $420.54 on Wednesday. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month high of $548.47. The company has a market cap of $9.79 billion, a P/E ratio of 23.98, a P/E/G ratio of 2.16 and a beta of 1.16. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $475.28 and its 200-day moving average price is $454.68.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the previous year, the firm posted $3.31 EPS. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.14%. The ex-dividend date was Friday, November 29th. Kinsale Capital Group’s payout ratio is currently 3.42%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KNSL shares. Royal Bank of Canada cut their price target on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Morgan Stanley began coverage on Kinsale Capital Group in a research report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 price objective for the company. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday, October 28th. Jefferies Financial Group boosted their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets increased their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $471.11.

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.