Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC lowered its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 53.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,631 shares of the financial services provider's stock after selling 31,051 shares during the period. Driehaus Capital Management LLC owned about 0.11% of Kinsale Capital Group worth $12,387,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of KNSL. Cetera Investment Advisers boosted its stake in shares of Kinsale Capital Group by 13.4% during the 4th quarter. Cetera Investment Advisers now owns 8,036 shares of the financial services provider's stock valued at $3,738,000 after buying an additional 947 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in Kinsale Capital Group in the fourth quarter valued at $877,000. Cary Street Partners Financial LLC acquired a new stake in Kinsale Capital Group in the fourth quarter valued at $746,000. Baird Financial Group Inc. boosted its stake in Kinsale Capital Group by 3.6% during the 4th quarter. Baird Financial Group Inc. now owns 153,731 shares of the financial services provider's stock valued at $71,505,000 after acquiring an additional 5,396 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in Kinsale Capital Group by 7.0% during the 4th quarter. Benjamin Edwards Inc. now owns 961 shares of the financial services provider's stock worth $447,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock traded up $2.62 on Monday, reaching $456.70. 114,635 shares of the company were exchanged, compared to its average volume of 169,884. Kinsale Capital Group, Inc. has a 1-year low of $366.92 and a 1-year high of $531.79. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 1.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The company's 50-day moving average is $463.89 and its two-hundred day moving average is $461.64.

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

Kinsale Capital Group Increases Dividend

The company 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 an increase 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 (DPR) is currently 3.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Kinsale Capital Group from $515.00 to $490.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Truist Financial reduced their target price on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Kinsale Capital Group presently has an average rating of "Hold" and an average price target of $470.00.

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.