Spyglass Capital Management LLC Acquires 31,547 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Spyglass Capital Management LLC lifted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 35.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 119,895 shares of the financial services provider's stock after purchasing an additional 31,547 shares during the period. Kinsale Capital Group comprises approximately 3.1% of Spyglass Capital Management LLC's holdings, making the stock its 20th biggest position. Spyglass Capital Management LLC owned approximately 0.51% of Kinsale Capital Group worth $55,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its stake in Kinsale Capital Group by 11.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the financial services provider's stock worth $93,000 after acquiring an additional 21 shares during the period. Ballentine Partners LLC raised its stake in Kinsale Capital Group by 4.6% during the 4th quarter. Ballentine Partners LLC now owns 573 shares of the financial services provider's stock worth $267,000 after acquiring an additional 25 shares during the period. Coldstream Capital Management Inc. raised its stake in Kinsale Capital Group by 1.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,469 shares of the financial services provider's stock worth $683,000 after acquiring an additional 25 shares during the period. Caprock Group LLC raised its stake in Kinsale Capital Group by 1.7% during the 4th quarter. Caprock Group LLC now owns 1,653 shares of the financial services provider's stock worth $769,000 after acquiring an additional 28 shares during the period. Finally, Fielder Capital Group LLC raised its stake in Kinsale Capital Group by 5.5% during the 4th quarter. Fielder Capital Group LLC now owns 595 shares of the financial services provider's stock worth $277,000 after acquiring an additional 31 shares during the period. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Price Performance

Shares of KNSL stock traded up $10.49 on Friday, reaching $463.64. The company's stock had a trading volume of 122,789 shares, compared to its average volume of 171,024. The stock's fifty day simple moving average is $465.79 and its 200-day simple moving average is $463.04. Kinsale Capital Group, Inc. has a 1 year low of $366.92 and a 1 year high of $531.79. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating analysts' consensus estimates of $3.15 by $0.56. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The firm had revenue of $423.40 million during the quarter, compared to analyst estimates of $425.73 million. During the same period last year, the firm posted $3.50 earnings per share. Kinsale Capital Group's revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on KNSL. Truist Financial cut 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 report on Monday, April 28th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $500.00 price objective on shares of Kinsale Capital Group in a report on Tuesday, February 18th. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Morgan Stanley increased their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. cut 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 report on Monday, April 28th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Kinsale Capital Group currently has an average rating of "Hold" and a consensus target price of $484.57.

Kinsale Capital Group Profile

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.