Kinsale Capital Group, Inc. (NYSE:KNSL) Position Lessened by Driehaus Capital Management LLC

Driehaus Capital Management LLC decreased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 36.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 56,448 shares of the financial services provider’s stock after selling 32,546 shares during the period. Driehaus Capital Management LLC’s holdings in Kinsale Capital Group were worth $21,748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in KNSL. Janney Montgomery Scott LLC lifted its holdings in shares of Kinsale Capital Group by 23.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 1,922 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 368 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Kinsale Capital Group by 4.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 9,990 shares of the financial services provider’s stock valued at $3,346,000 after acquiring an additional 400 shares during the period. Capstone Investment Advisors LLC acquired a new stake in Kinsale Capital Group in the 4th quarter valued at approximately $231,000. Brown Brothers Harriman & Co. acquired a new stake in Kinsale Capital Group in the 4th quarter valued at approximately $33,000. Finally, KBC Group NV acquired a new stake in Kinsale Capital Group in the 4th quarter valued at approximately $148,000. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

KNSL has been the topic of several analyst reports. Truist Financial raised their target price on Kinsale Capital Group from $485.00 to $530.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer initiated coverage on Kinsale Capital Group in a research report on Friday, July 12th. They issued a “market perform” rating on the stock. Royal Bank of Canada raised their target price on Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, Wolfe Research downgraded Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and an average target price of $438.71.

Kinsale Capital Group Stock Up 2.6 %

Shares of Kinsale Capital Group stock opened at $461.38 on Friday. The stock’s fifty day moving average is $458.52 and its 200-day moving average is $432.93. The firm has a market capitalization of $10.74 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.02 and a beta of 1.08. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23. The company had revenue of $384.55 million for the quarter, compared to analyst estimates of $410.20 million. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. Kinsale Capital Group’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.88 earnings per share. Equities analysts anticipate that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

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.