First Manhattan CO. LLC. Has $97.96 Million Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• First Manhattan CO. LLC. increased its holdings in Kinsale Capital Group, Inc. by 401.4% during the first quarter, acquiring an additional 161,132 shares to own approximately 0.86% of the company.
• Kinsale Capital Group reported $4.78 earnings per share for the last quarter, surpassing analysts' expectations of $4.41 and achieving 22.2% year-over-year revenue growth.
• The company has declared a quarterly dividend of $0.17 per share, with an ex-dividend date set for August 29th, reflecting a modest dividend yield of 0.1%.

First Manhattan CO. LLC. lifted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 401.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,272 shares of the financial services provider's stock after buying an additional 161,132 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.86% of Kinsale Capital Group worth $97,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in KNSL. Key Financial Inc grew its position in shares of Kinsale Capital Group by 315.4% during the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after buying an additional 41 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Kinsale Capital Group during the first quarter worth approximately $31,000. NBC Securities Inc. acquired a new stake in shares of Kinsale Capital Group during the first quarter worth approximately $35,000. von Borstel & Associates Inc. acquired a new stake in shares of Kinsale Capital Group during the first quarter worth approximately $42,000. Finally, Quarry LP acquired a new stake in shares of Kinsale Capital Group during the first quarter worth approximately $55,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Stock Performance

Shares of KNSL traded down $3.94 during midday trading on Friday, hitting $455.77. 140,554 shares of the stock traded hands, compared to its average volume of 183,960. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The firm has a market capitalization of $10.62 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. 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 business's 50 day moving average price is $463.06 and its two-hundred day moving average price is $461.88.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business had revenue of $458.70 million for the quarter, compared to analysts' expectations of $436.25 million. During the same period in the previous year, the business earned $3.75 earnings per share. The company's revenue was up 22.2% on a year-over-year basis. Equities research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be given a $0.17 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 0.1%. Kinsale Capital Group's payout ratio is 3.55%.

Analysts Set New Price Targets

KNSL has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Morgan Stanley lifted their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. BMO Capital Markets lifted their price objective on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a report on Tuesday, July 29th. Finally, Compass Point lifted their price objective on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $505.80.

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.