Giverny Capital Inc. Buys 79,208 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Giverny Capital Inc. increased its stake in Kinsale Capital Group by 87.3%, owning approximately 169,967 shares, which constitutes 3.0% of its investment portfolio.
• Kinsale Capital Group's recent earnings report showed an EPS of $4.78, exceeding analysts' expectations, with revenue growth of 22.2% year-over-year.
• The company announced a $0.17 dividend per share, reflecting a yield of 15.0%, with a payout ratio of 3.55%.

Giverny Capital Inc. boosted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 87.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 169,967 shares of the financial services provider's stock after buying an additional 79,208 shares during the period. Kinsale Capital Group makes up about 3.0% of Giverny Capital Inc.'s holdings, making the stock its 13th largest holding. Giverny Capital Inc. owned 0.73% of Kinsale Capital Group worth $82,725,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its stake in Kinsale Capital Group by 10.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock valued at $1,272,000 after buying an additional 254 shares during the period. Bridges Investment Management Inc. raised its position in Kinsale Capital Group by 111.5% during the first quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock valued at $2,446,000 after purchasing an additional 2,650 shares in the last quarter. M&T Bank Corp raised its position in Kinsale Capital Group by 43.4% during the first quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock valued at $1,787,000 after purchasing an additional 1,111 shares in the last quarter. Artemis Investment Management LLP raised its position in Kinsale Capital Group by 43.9% during the first quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after purchasing an additional 24,681 shares in the last quarter. Finally, Moody Aldrich Partners LLC purchased a new position in shares of Kinsale Capital Group in the first quarter worth about $270,000. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Down 1.1%

Kinsale Capital Group stock traded down $4.8520 during trading hours on Friday, hitting $454.2080. 110,420 shares of the stock traded hands, compared to its average volume of 206,581. The firm's 50-day moving average price is $466.15 and its two-hundred day moving average price is $463.14. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The company has a market cap of $10.58 billion, a PE ratio of 23.69, a PEG ratio of 1.69 and a beta of 1.12. Kinsale Capital Group, Inc. has a one year low of $405.00 and a one year high of $531.79.

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

Kinsale Capital Group Announces Dividend

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

Insider Activity at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the sale, the executive vice president directly owned 6,646 shares of the company's stock, valued at $3,136,912. The trade was a 17.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KNSL has been the topic of several analyst reports. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Morgan Stanley lifted their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Cantor Fitzgerald upgraded Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Bank of America assumed coverage on Kinsale Capital Group in a report on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective on the stock. Finally, BMO Capital Markets boosted their price target on Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus 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.