Harbor Advisors LLC Takes Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Harbor Advisors LLC acquired a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 800 shares of the financial services provider’s stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KNSL. Royal London Asset Management Ltd. grew its position in Kinsale Capital Group by 4,798.0% during the third quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock valued at $101,692,000 after purchasing an additional 240,668 shares in the last quarter. DAVENPORT & Co LLC grew its position in Kinsale Capital Group by 154.5% in the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock worth $109,362,000 after acquiring an additional 198,129 shares in the last quarter. International Assets Investment Management LLC grew its position in Kinsale Capital Group by 33,266.0% in the fourth quarter. International Assets Investment Management LLC now owns 178,842 shares of the financial services provider’s stock worth $59,896,000 after acquiring an additional 178,306 shares in the last quarter. Invesco Ltd. grew its position in Kinsale Capital Group by 15.4% in the third quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock worth $287,435,000 after acquiring an additional 92,496 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Kinsale Capital Group by 32.6% in the third quarter. Envestnet Asset Management Inc. now owns 109,822 shares of the financial services provider’s stock worth $45,481,000 after acquiring an additional 27,015 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KNSL has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. BMO Capital Markets downgraded shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $434.00 to $544.00 in a report on Wednesday, February 28th. Royal Bank of Canada upped their price objective on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $510.00.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded up $1.13 during trading hours on Tuesday, hitting $464.36. 209,126 shares of the company traded hands, compared to its average volume of 182,898. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 35.09 and a beta of 0.89. Kinsale Capital Group, Inc. has a twelve month low of $297.33 and a twelve month high of $548.47. The firm has a 50-day moving average of $492.26 and a 200 day moving average of $415.54. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.43. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The business had revenue of $351.17 million during the quarter, compared to analysts’ expectations of $367.98 million. During the same quarter last year, the company posted $2.60 EPS. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. On average, analysts forecast that Kinsale Capital Group, Inc. will post 15.26 EPS for the current year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, February 26th. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. Kinsale Capital Group’s dividend payout ratio is currently 4.54%.

Insiders Place Their Bets

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the sale, the director now owns 887 shares of the company’s stock, valued at approximately $464,867.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the transaction, the director now owns 887 shares of the company’s stock, valued at approximately $464,867.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

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.