Kinsale Capital Group, Inc. $KNSL Shares Sold by Oak Ridge Investments LLC

Oak Ridge Investments LLC reduced its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 80.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,864 shares of the financial services provider’s stock after selling 7,773 shares during the period. Oak Ridge Investments LLC’s holdings in Kinsale Capital Group were worth $793,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Kinsale Capital Group during the second quarter worth about $125,812,000. Orion Porfolio Solutions LLC raised its stake in Kinsale Capital Group by 1,141.4% during the second quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock valued at $39,546,000 after buying an additional 75,141 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in Kinsale Capital Group during the second quarter valued at approximately $32,034,000. Westfield Capital Management Co. LP lifted its holdings in Kinsale Capital Group by 127.4% during the 2nd quarter. Westfield Capital Management Co. LP now owns 117,394 shares of the financial services provider’s stock worth $56,807,000 after buying an additional 65,770 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Kinsale Capital Group by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 168,493 shares of the financial services provider’s stock worth $81,537,000 after acquiring an additional 31,250 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Trading Down 0.2%

Kinsale Capital Group stock opened at $398.56 on Monday. Kinsale Capital Group, Inc. has a 52-week low of $349.00 and a 52-week high of $512.76. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.40 and a beta of 1.00. The firm has a 50-day moving average price of $387.84 and a two-hundred day moving average price of $426.92.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 EPS for the quarter, beating the consensus estimate of $4.79 by $0.42. The company had revenue of $497.51 million for the quarter, compared to analyst estimates of $446.00 million. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. Kinsale Capital Group’s revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.20 earnings per share. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group declared that its Board of Directors has approved a share repurchase plan on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Friday, November 28th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.68 annualized dividend and a yield of 0.2%. Kinsale Capital Group’s payout ratio is presently 3.34%.

Analysts Set New Price Targets

Several research firms recently issued reports on KNSL. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Royal Bank Of Canada started coverage on shares of Kinsale Capital Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective on the stock. Cantor Fitzgerald cut their target price on shares of Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $476.60.

About Kinsale Capital Group

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.