First Manhattan CO. LLC. Takes $18.67 Million Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

First Manhattan CO. LLC. purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 40,140 shares of the financial services provider's stock, valued at approximately $18,670,000. First Manhattan CO. LLC. owned about 0.17% of Kinsale Capital Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LPL Financial LLC grew its holdings in shares of Kinsale Capital Group by 29.4% during the 4th quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock worth $9,310,000 after acquiring an additional 4,644 shares during the period. California Public Employees Retirement System grew its holdings in shares of Kinsale Capital Group by 11.8% during the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider's stock worth $18,299,000 after acquiring an additional 4,146 shares during the period. Empowered Funds LLC purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $1,071,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Kinsale Capital Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider's stock worth $70,907,000 after acquiring an additional 3,970 shares during the period. Finally, Argent Capital Management LLC purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $1,736,000. Institutional investors own 85.36% of the company's stock.

Analyst Ratings Changes

KNSL has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Kinsale Capital Group from $515.00 to $490.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Royal Bank of Canada restated a "sector perform" rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Truist Financial cut their price target on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, JMP Securities restated a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $470.00.

Kinsale Capital Group Stock Down 0.7%

KNSL stock traded down $3.19 during midday trading on Friday, hitting $454.46. The company's stock had a trading volume of 102,209 shares, compared to its average volume of 170,106. The company has a market cap of $10.59 billion, a PE ratio of 25.55, a P/E/G ratio of 1.66 and a beta of 1.29. Kinsale Capital Group, Inc. has a 12 month low of $366.92 and a 12 month 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 firm's 50-day moving average is $463.50 and its 200-day moving average is $461.49.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $423.40 million for the quarter, compared to analysts' expectations of $425.73 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.50 EPS. On average, equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.15%. Kinsale Capital Group's dividend payout ratio is 3.91%.

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.