Spyglass Capital Management LLC Has $41.13 Million Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Spyglass Capital Management LLC lowered its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,348 shares of the financial services provider’s stock after selling 1,329 shares during the quarter. Kinsale Capital Group accounts for 2.7% of Spyglass Capital Management LLC’s holdings, making the stock its 21st biggest position. Spyglass Capital Management LLC owned approximately 0.38% of Kinsale Capital Group worth $41,132,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in shares of Kinsale Capital Group in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. increased its position in Kinsale Capital Group by 408.3% during the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after buying an additional 49 shares during the period. Trust Co. of Vermont increased its position in Kinsale Capital Group by 113.6% during the 2nd quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after buying an additional 50 shares during the period. Signaturefd LLC increased its position in shares of Kinsale Capital Group by 68.9% in the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 42 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Kinsale Capital Group by 225.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial reduced their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Jefferies Financial Group raised their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets lifted their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Finally, Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a research note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $456.88.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $515.45 on Friday. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.19 and a beta of 1.09. The business has a 50-day moving average of $464.91 and a 200-day moving average of $435.68.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The business had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.31 earnings per share. As a group, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.67 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. Kinsale Capital Group’s dividend payout ratio is 3.42%.

Insider Activity

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now owns 447 shares in the company, valued at $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Profile

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.