DAVENPORT & Co LLC Buys 31,480 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

DAVENPORT & Co LLC lifted its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 6.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 543,349 shares of the financial services provider's stock after buying an additional 31,480 shares during the period. Kinsale Capital Group makes up about 1.5% of DAVENPORT & Co LLC's portfolio, making the stock its 8th largest position. DAVENPORT & Co LLC owned approximately 2.33% of Kinsale Capital Group worth $263,233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC raised its stake in Kinsale Capital Group by 77.6% in the 4th quarter. Private Advisor Group LLC now owns 1,037 shares of the financial services provider's stock worth $482,000 after acquiring an additional 453 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Kinsale Capital Group by 2.9% in the 4th quarter. Bank of New York Mellon Corp now owns 183,345 shares of the financial services provider's stock worth $85,279,000 after acquiring an additional 5,213 shares during the last quarter. QRG Capital Management Inc. raised its stake in Kinsale Capital Group by 3.8% in the 4th quarter. QRG Capital Management Inc. now owns 1,368 shares of the financial services provider's stock worth $636,000 after acquiring an additional 50 shares during the last quarter. Bridges Investment Management Inc. raised its stake in Kinsale Capital Group by 42.5% in the 4th quarter. Bridges Investment Management Inc. now owns 2,376 shares of the financial services provider's stock worth $1,105,000 after acquiring an additional 709 shares during the last quarter. Finally, Norden Group LLC raised its stake in Kinsale Capital Group by 3.7% in the 4th quarter. Norden Group LLC now owns 1,414 shares of the financial services provider's stock worth $658,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on KNSL shares. Bank of America started coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price objective for the company. Truist Financial decreased their price objective on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Morgan Stanley lifted their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $491.88.

Insider Activity at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the sale, the executive vice president directly owned 6,646 shares in the company, valued at $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by company insiders.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL traded down $8.75 during trading on Wednesday, hitting $470.64. The company had a trading volume of 189,823 shares, compared to its average volume of 178,624. The stock has a fifty day simple moving average of $463.50 and a two-hundred day simple moving average of $459.05. Kinsale Capital Group, Inc. has a fifty-two week low of $366.92 and a fifty-two week high of $531.79. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a net margin of 24.73% and a return on equity of 26.36%. The business had revenue of $423.40 million for the quarter, compared to analyst estimates of $425.73 million. During the same quarter last year, the business earned $3.50 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given a $0.17 dividend. This represents a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, May 29th. Kinsale Capital Group's dividend payout ratio (DPR) is 3.91%.

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.