Hendershot Investments Inc. Purchases 1,450 Shares of Kinsale Capital Group, Inc. $KNSL

Hendershot Investments Inc. increased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 6.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 22,983 shares of the financial services provider’s stock after acquiring an additional 1,450 shares during the quarter. Kinsale Capital Group makes up 1.1% of Hendershot Investments Inc.’s portfolio, making the stock its 29th biggest position. Hendershot Investments Inc.’s holdings in Kinsale Capital Group were worth $7,852,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bayban acquired a new position in Kinsale Capital Group in the fourth quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $25,000. eCIO Inc. acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $29,000. International Assets Investment Management LLC bought a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $29,000. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $353.92 on Friday. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.15 and a beta of 0.90. The stock’s 50-day moving average is $314.14 and its 200-day moving average is $354.91. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $512.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The business had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. During the same period last year, the company earned $3.71 earnings per share. Kinsale Capital Group’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts predict that Kinsale Capital Group, Inc. will post 20.65 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is 4.40%.

Insiders Place Their Bets

In other news, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. This trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher R. Tangard acquired 330 shares of the stock in a transaction dated Monday, June 8th. The stock was acquired at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KNSL. Truist Financial decreased their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research report on Monday, April 27th. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Morgan Stanley cut their price target on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Cantor Fitzgerald reduced their price target on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, Royal Bank Of Canada lowered their price objective on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $374.90.

Kinsale Capital Group Profile

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.