Westfield Capital Management Co. LP Buys 24,752 Shares of Kinsale Capital Group, Inc. $KNSL

Westfield Capital Management Co. LP boosted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 21.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 142,146 shares of the financial services provider’s stock after purchasing an additional 24,752 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Kinsale Capital Group were worth $60,449,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Epoch Investment Partners Inc. raised its position in shares of Kinsale Capital Group by 1.1% during the second quarter. Epoch Investment Partners Inc. now owns 2,174 shares of the financial services provider’s stock worth $1,052,000 after acquiring an additional 23 shares during the last quarter. Vident Advisory LLC increased its position in Kinsale Capital Group by 2.9% in the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 23 shares during the period. Portside Wealth Group LLC lifted its position in Kinsale Capital Group by 1.4% during the 2nd quarter. Portside Wealth Group LLC now owns 1,860 shares of the financial services provider’s stock valued at $900,000 after purchasing an additional 25 shares during the period. Emerald Advisers LLC raised its stake in shares of Kinsale Capital Group by 1.7% during the second quarter. Emerald Advisers LLC now owns 1,649 shares of the financial services provider’s stock worth $798,000 after buying an additional 28 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Kinsale Capital Group by 20.9% in the second quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock valued at $77,000 after buying an additional 28 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on KNSL shares. JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. Cantor Fitzgerald dropped their price objective on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Jefferies Financial Group restated a “hold” rating and set a $433.00 target price on shares of Kinsale Capital Group in a report on Friday, February 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $441.91.

Kinsale Capital Group Trading Up 2.4%

NYSE:KNSL opened at $382.15 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.09. The business’s 50-day simple moving average is $393.67 and its 200-day simple moving average is $412.06. Kinsale Capital Group, Inc. has a fifty-two week low of $341.06 and a fifty-two week high of $512.76. The stock has a market capitalization of $8.89 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, topping the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same period last year, the company posted $4.62 EPS. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group announced that its board has initiated a stock buyback plan on Thursday, December 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $1.00 annualized dividend and a yield of 0.3%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s payout ratio is presently 3.14%.

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.