Giverny Capital Inc. Purchases 23,802 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Giverny Capital increased its stake in Kinsale Capital Group by 12.5% in the fourth quarter, buying 23,802 more shares and bringing its total holdings to 214,264 shares worth about $83.8 million.
• Analysts have turned more cautious on KNSL, with several firms cutting ratings or price targets; the stock now carries a consensus Hold rating and an average target price of $390.18.
• Kinsale reported solid quarterly results, posting EPS of $5.11 versus expectations of $4.70 and revenue of $466.71 million, while also paying a quarterly dividend of $0.25 per share.

Giverny Capital Inc. boosted its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 12.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,264 shares of the financial services provider's stock after buying an additional 23,802 shares during the period. Kinsale Capital Group makes up approximately 2.8% of Giverny Capital Inc.'s portfolio, making the stock its 16th biggest position. Giverny Capital Inc. owned approximately 0.92% of Kinsale Capital Group worth $83,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KNSL. Isthmus Partners LLC purchased a new position in Kinsale Capital Group in the fourth quarter valued at about $8,110,000. JPMorgan Chase & Co. boosted its stake in Kinsale Capital Group by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider's stock valued at $191,386,000 after acquiring an additional 25,428 shares during the last quarter. Leibman Financial Services Inc. boosted its stake in Kinsale Capital Group by 109.9% in the fourth quarter. Leibman Financial Services Inc. now owns 9,438 shares of the financial services provider's stock valued at $3,691,000 after acquiring an additional 4,942 shares during the last quarter. Tudor Investment Corp ET AL boosted its stake in Kinsale Capital Group by 7,444.2% in the third quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider's stock valued at $16,041,000 after acquiring an additional 37,221 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Kinsale Capital Group during the 3rd quarter valued at approximately $6,546,000. 85.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on KNSL. Weiss Ratings cut shares of Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. BMO Capital Markets cut shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price target on the stock. in a research note on Wednesday, February 25th. Cantor Fitzgerald decreased their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Wall Street Zen lowered shares of Kinsale Capital Group from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $390.18.

Kinsale Capital Group Price Performance

KNSL stock opened at $311.29 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $512.76. The firm's fifty day moving average is $323.98 and its 200 day moving average is $360.73. The firm has a market cap of $7.18 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.01 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same quarter last year, the firm earned $3.71 EPS. The firm's quarterly revenue was down .5% compared to the same quarter last year. Research analysts predict that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 4.40%.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer owned 308,048 shares of the company's stock, valued at $93,233,807.68. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christopher R. Tangard purchased 330 shares of the company's stock in a transaction on Monday, June 8th. The shares were purchased at an average cost of $304.00 per share, with a total value of $100,320.00. Following the transaction, the chief accounting officer directly owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.60% of the stock is owned by insiders.

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.

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