Norden Group LLC Has $4.83 Million Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Norden Group LLC lifted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1,355.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,198 shares of the financial services provider’s stock after purchasing an additional 8,566 shares during the quarter. Norden Group LLC’s holdings in Kinsale Capital Group were worth $4,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its position in shares of Kinsale Capital Group by 5.4% in the third quarter. FMR LLC now owns 19,104 shares of the financial services provider’s stock valued at $7,912,000 after purchasing an additional 983 shares during the period. Hsbc Holdings PLC boosted its holdings in Kinsale Capital Group by 84.4% during the third quarter. Hsbc Holdings PLC now owns 1,481 shares of the financial services provider’s stock valued at $618,000 after acquiring an additional 678 shares during the period. LPL Financial LLC grew its position in shares of Kinsale Capital Group by 5.8% in the third quarter. LPL Financial LLC now owns 14,907 shares of the financial services provider’s stock valued at $6,149,000 after purchasing an additional 820 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Kinsale Capital Group in the third quarter worth about $335,000. Finally, Sei Investments Co. lifted its position in shares of Kinsale Capital Group by 0.8% during the 3rd quarter. Sei Investments Co. now owns 98,529 shares of the financial services provider’s stock worth $40,804,000 after purchasing an additional 772 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $382.64 on Thursday. Kinsale Capital Group, Inc. has a twelve month low of $325.01 and a twelve month high of $548.47. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16. The stock has a market cap of $8.91 billion, a P/E ratio of 25.42 and a beta of 1.06. The company’s 50-day simple moving average is $385.84 and its 200 day simple moving average is $420.86.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The company had revenue of $372.79 million for the quarter, compared to analyst estimates of $366.45 million. During the same period in the prior year, the company posted $2.44 EPS. The company’s revenue was up 41.7% compared to the same quarter last year. As a group, research analysts forecast that Kinsale Capital Group, Inc. will post 14.94 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.60 annualized dividend and a yield of 0.16%. Kinsale Capital Group’s dividend payout ratio is currently 3.99%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KNSL shares. TD Cowen assumed coverage on Kinsale Capital Group in a report on Monday, May 20th. They issued a “hold” rating and a $403.00 target price on the stock. Compass Point cut their target price on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Truist Financial decreased their price target on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $425.00 price objective (down previously from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Finally, BMO Capital Markets decreased their target price on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $434.00.

Insider Buying and Selling at Kinsale Capital Group

In other news, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total value of $1,389,321.72. Following the sale, the chief operating officer now owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.60% of the company’s stock.

About Kinsale Capital Group

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.