Hendershot Investments Inc. Acquires New Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Hendershot Investments Inc. bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,188 shares of the financial services provider’s stock, valued at approximately $4,311,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Kinsale Capital Group by 1.5% in 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 buying an additional 30,729 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Kinsale Capital Group by 14.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock worth $164,291,000 after purchasing an additional 52,218 shares in the last quarter. DAVENPORT & Co LLC lifted its position in Kinsale Capital Group by 0.4% in the first 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 boosted its stake in Kinsale Capital Group by 25.4% during the 1st quarter. Riverbridge Partners LLC now owns 311,664 shares of the financial services provider’s stock valued at $163,543,000 after purchasing an additional 63,141 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Kinsale Capital Group by 5.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 291,339 shares of the financial services provider’s stock valued at $97,572,000 after purchasing an additional 15,718 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

KNSL has been the subject of several research analyst reports. Oppenheimer assumed coverage on Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating for the company. Royal Bank of Canada raised their price objective on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. TD Cowen began coverage on shares of Kinsale Capital Group in a research note on Monday, May 20th. They issued a “hold” rating and a $403.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, Truist Financial raised their target price on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group has an average rating of “Hold” and a consensus price target of $443.38.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $465.27 on Friday. The company has a 50-day moving average of $435.59 and a two-hundred day moving average of $439.47. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The firm had revenue of $384.55 million during the quarter, compared to analyst estimates of $410.20 million. During the same quarter last year, the business posted $2.88 EPS. The company’s revenue was up 30.0% on a year-over-year basis. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 15.29 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. Kinsale Capital Group’s dividend payout ratio is 3.99%.

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.