Alta Capital Management LLC Buys 9,589 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Alta Capital Management LLC raised its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 32.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 39,239 shares of the financial services provider’s stock after purchasing an additional 9,589 shares during the quarter. Kinsale Capital Group accounts for about 1.1% of Alta Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Alta Capital Management LLC’s holdings in Kinsale Capital Group were worth $18,251,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in KNSL. State Street Corp increased its stake in Kinsale Capital Group by 1.3% in the third quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock valued at $320,957,000 after acquiring an additional 8,954 shares during the period. Geode Capital Management LLC increased its stake in Kinsale Capital Group by 5.9% in the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after acquiring an additional 29,686 shares during the period. DAVENPORT & Co LLC increased its stake in Kinsale Capital Group by 9.6% in the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after acquiring an additional 44,931 shares during the period. Geneva Capital Management LLC increased its stake in Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after acquiring an additional 5,207 shares during the period. Finally, DF Dent & Co. Inc. increased its stake in Kinsale Capital Group by 3.0% in the third quarter. DF Dent & Co. Inc. now owns 226,614 shares of the financial services provider’s stock valued at $105,505,000 after acquiring an additional 6,679 shares during the period. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Truist Financial upped their price objective on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Finally, Morgan Stanley decreased their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $468.56.

Insider Activity at Kinsale Capital Group

In related news, Director James Joseph Ritchie sold 2,295 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the transaction, the director now directly owns 7,348 shares in the company, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares in the company, valued at $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Kinsale Capital Group Price Performance

Shares of KNSL stock opened at $431.21 on Tuesday. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $548.47. The firm’s 50 day moving average is $446.62 and its 200-day moving average is $463.59. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 1.66 and a beta of 1.15. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The company had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. Sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.16%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio is presently 3.82%.

Kinsale Capital Group Company 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.