Ashford Capital Management Inc. Purchases 6,215 Shares of Kinsale Capital Group, Inc. $KNSL

Ashford Capital Management Inc. lifted its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 16.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,360 shares of the financial services provider’s stock after purchasing an additional 6,215 shares during the quarter. Kinsale Capital Group accounts for about 1.9% of Ashford Capital Management Inc.’s holdings, making the stock its 22nd largest holding. Ashford Capital Management Inc.’s holdings in Kinsale Capital Group were worth $15,156,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Life Cycle Investment Partners Ltd purchased a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $229,653,000. Capital World Investors grew its position in Kinsale Capital Group by 117.4% during the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after acquiring an additional 533,499 shares during the last quarter. Norges Bank bought a new position in Kinsale Capital Group during the fourth quarter valued at approximately $107,916,000. First Manhattan CO. LLC. raised its stake in shares of Kinsale Capital Group by 19.6% during the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after acquiring an additional 100,600 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of Kinsale Capital Group by 2,621.6% during the fourth quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock worth $35,638,000 after acquiring an additional 87,770 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Up 3.6%

Shares of Kinsale Capital Group stock opened at $361.61 on Tuesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $321.90 and its two-hundred day simple moving average is $348.74. The company has a market cap of $8.34 billion, a P/E ratio of 14.65, a PEG ratio of 1.12 and a beta of 0.90. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $486.00.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. During the same period in the prior year, the business earned $4.78 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Research analysts anticipate that Kinsale Capital Group, Inc. will post 20.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is presently 4.05%.

Insider Buying and Selling

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares in the company, valued at $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. The trade was a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Cantor Fitzgerald reduced their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, Wells Fargo & Company lifted their price objective on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $362.11.

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.