Granahan Investment Management LLC Increases Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Granahan Investment Management LLC lifted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 26.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,686 shares of the financial services provider’s stock after buying an additional 4,064 shares during the period. Granahan Investment Management LLC owned about 0.08% of Kinsale Capital Group worth $7,700,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KNSL. V Square Quantitative Management LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $25,000. eCIO Inc. purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $29,000. Johnson Financial Group Inc. boosted its position in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 54 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in Kinsale Capital Group by 225.0% in the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insider Activity

In other news, CAO Christopher R. Tangard purchased 330 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were purchased at an average price of $304.00 per share, with a total value of $100,320.00. Following the transaction, the chief accounting officer directly owned 380 shares of the company’s stock, valued at approximately $115,520. This represents a 660.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer directly owned 308,048 shares in the company, valued at $93,233,807.68. This represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Up 0.2%

Shares of NYSE KNSL opened at $312.59 on Wednesday. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $512.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The business’s fifty day moving average price is $322.67 and its 200-day moving average price is $359.59. The stock has a market capitalization of $7.21 billion, a PE ratio of 13.76, a P/E/G ratio of 1.01 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm had revenue of $466.71 million for the quarter, compared to analysts’ expectations of $410.25 million. During the same quarter in the prior year, the firm earned $3.71 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 20.54 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is currently 4.40%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Royal Bank Of Canada lowered their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Wells Fargo & Company cut Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $420.00 to $357.00 in a research note on Monday, April 27th. Weiss Ratings cut Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Finally, TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $390.18.

Kinsale Capital Group Company 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.