Granahan Investment Management LLC Cuts Stake in Kinsale Capital Group, Inc. $KNSL

Granahan Investment Management LLC cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 16.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,516 shares of the financial services provider’s stock after selling 3,170 shares during the period. Granahan Investment Management LLC owned 0.07% of Kinsale Capital Group worth $5,643,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Isthmus Partners LLC acquired a new position in shares of Kinsale Capital Group during the fourth quarter valued at about $8,110,000. Life Cycle Investment Partners Ltd purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at approximately $229,653,000. Tudor Investment Corp ET AL boosted its stake in Kinsale Capital Group by 7,444.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock worth $16,041,000 after purchasing an additional 37,221 shares in the last quarter. Stephens Investment Management Group LLC boosted its stake in Kinsale Capital Group by 37.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider’s stock worth $81,382,000 after purchasing an additional 56,916 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in Kinsale Capital Group by 9.6% during the 4th quarter. Handelsbanken Fonder AB now owns 57,000 shares of the financial services provider’s stock worth $22,294,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insider Buying and Selling at Kinsale Capital Group

In other news, 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 transaction of $77,792.50. Following the completion of the transaction, the insider directly owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the transaction, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is currently owned by corporate insiders.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $348.70 on Friday. Kinsale Capital Group, Inc. has a twelve month low of $287.20 and a twelve month high of $512.76. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The company has a market cap of $8.04 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. The company’s 50 day moving average is $321.17 and its 200 day moving average is $349.35.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating 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 25.89%. The business had revenue of $548.52 million during the quarter, compared to analysts’ expectations of $445.13 million. During the same period in the previous year, the business posted $4.78 EPS. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts forecast 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. Shareholders of record on Thursday, May 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s payout ratio is presently 4.05%.

Kinsale Capital Group News Roundup

Here are the key news stories impacting Kinsale Capital Group this week:

• Positive Sentiment: Kinsale delivered a major Q2 earnings beat, with both profit and revenue topping estimates and revenue rising 16.8% from a year ago. Article title: Kinsale Capital Group, Inc. (KNSL) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Higher underwriting income and investment income helped drive the quarter’s outperformance, signaling continued profitability strength. Article title: KNSL Q2 Earnings Beat on Higher Underwriting & Investment Income
• Positive Sentiment: The company authorized a new $337 million share buyback, which can support the stock by reducing share count and signaling confidence in capital strength. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market
• Neutral Sentiment: Commentary around Kinsale being a “strong momentum” and “top value” stock is supportive, but it is more of a ratings/market commentary theme than a direct operational catalyst. Article title: Here’s Why Kinsale Capital Group, Inc. (KNSL) is a Strong Momentum Stock
• Neutral Sentiment: Reports noting tougher competition and shrinking commercial property volume suggest some underwriting headwinds, but the market appears focused more on the earnings beat and buyback than on those pressures. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market

Analyst Ratings Changes

KNSL has been the topic of a number of recent analyst reports. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Wells Fargo & Company boosted their price objective on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Truist Financial cut their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Royal Bank Of Canada reduced their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $373.80.

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.