Westfield Capital Management Co. LP Sells 54,075 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Westfield Capital Management Co. LP lowered its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 33.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 106,301 shares of the financial services provider’s stock after selling 54,075 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Kinsale Capital Group were worth $55,780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Kinsale Capital Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,090,492 shares of the financial services provider’s stock valued at $700,127,000 after purchasing an additional 30,729 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Kinsale Capital Group in the 1st quarter worth about $196,358,000. DAVENPORT & Co LLC raised its position in Kinsale Capital Group by 0.4% in the 1st quarter. DAVENPORT & Co LLC now owns 327,664 shares of the financial services provider’s stock worth $173,095,000 after purchasing an additional 1,286 shares during the period. Riverbridge Partners LLC raised its position in Kinsale Capital Group by 25.4% in the 1st quarter. Riverbridge Partners LLC now owns 311,664 shares of the financial services provider’s stock worth $163,543,000 after purchasing an additional 63,141 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Kinsale Capital Group by 5.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 291,339 shares of the financial services provider’s stock worth $97,572,000 after purchasing an additional 15,718 shares during the period. Institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial reduced their price objective 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. BMO Capital Markets reduced their price objective on shares of 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. JPMorgan Chase & Co. increased their price objective on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Oppenheimer began coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $425.00 target price (down from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $434.00.

Insider Activity

In other Kinsale Capital Group news, COO Brian D. Haney sold 3,778 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 95,850 shares in the company, valued at $35,247,879. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Down 4.7 %

Shares of NYSE KNSL traded down $18.31 during midday trading on Friday, reaching $370.41. 254,565 shares of the company’s stock traded hands, compared to its average volume of 143,066. 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’s 50 day simple moving average is $385.81 and its 200-day simple moving average is $424.93. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.65 and a beta of 1.06.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The firm had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. During the same period last year, the firm earned $2.44 earnings per share. The company’s quarterly revenue was up 41.7% on a year-over-year basis. On average, analysts predict that Kinsale Capital Group, Inc. will post 14.98 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio 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.