Hendershot Investments Inc. Acquires Shares of 11,188 Kinsale Capital Group, Inc. (NYSE:KNSL)

Hendershot Investments Inc. purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 11,188 shares of the financial services provider’s stock, valued at approximately $4,311,000.

Other hedge funds have also modified their holdings of the company. National Bank of Canada FI raised its position in Kinsale Capital Group by 204,450.0% during the second quarter. National Bank of Canada FI now owns 8,182 shares of the financial services provider’s stock valued at $3,203,000 after acquiring an additional 8,178 shares in the last quarter. SouthState Corp bought a new position in shares of Kinsale Capital Group in the 2nd quarter valued at approximately $65,000. Fiduciary Family Office LLC lifted its holdings in Kinsale Capital Group by 43.3% in the 2nd quarter. Fiduciary Family Office LLC now owns 1,486 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 449 shares during the last quarter. Rhumbline Advisers grew its holdings in Kinsale Capital Group by 0.9% during the second quarter. Rhumbline Advisers now owns 62,894 shares of the financial services provider’s stock valued at $24,232,000 after purchasing an additional 579 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Kinsale Capital Group by 7.0% in the second quarter. CIBC Asset Management Inc now owns 659 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 43 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on KNSL shares. Oppenheimer assumed coverage on shares of Kinsale Capital Group in a report on Friday, July 12th. They set a “market perform” rating for the company. JPMorgan Chase & Co. increased their target price on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. TD Cowen started coverage on Kinsale Capital Group in a research report on Monday, May 20th. They issued a “hold” rating and a $403.00 price target on the stock. Truist Financial increased their price objective on Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada upped their target price on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $443.38.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock opened at $465.27 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. Kinsale Capital Group, Inc. has a fifty-two week low of $325.01 and a fifty-two week high of $548.47. The firm has a fifty day moving average price of $435.59 and a two-hundred day moving average price of $439.47. The company has a market cap of $10.83 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23. The company had revenue of $384.55 million during the quarter, compared to the consensus estimate of $410.20 million. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the firm earned $2.88 EPS. Analysts expect that Kinsale Capital Group, Inc. will post 15.29 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued 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 is Thursday, August 29th. Kinsale Capital Group’s payout ratio is 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.