Congress Asset Management Co. Has $15.66 Million Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Congress Asset Management Co. decreased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 35.1% during the 3rd quarter, Holdings Channel reports. The firm owned 36,828 shares of the financial services provider’s stock after selling 19,886 shares during the quarter. Congress Asset Management Co.’s holdings in Kinsale Capital Group were worth $15,662,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KNSL. Norges Bank acquired a new position in Kinsale Capital Group in the second quarter valued at about $125,812,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Kinsale Capital Group in the first quarter valued at approximately $125,003,000. First Manhattan CO. LLC. raised its stake in shares of Kinsale Capital Group by 401.4% in the first quarter. First Manhattan CO. LLC. now owns 201,272 shares of the financial services provider’s stock valued at $97,961,000 after acquiring an additional 161,132 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Kinsale Capital Group by 1,141.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock worth $39,546,000 after acquiring an additional 75,141 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Kinsale Capital Group in the 2nd quarter worth approximately $32,034,000. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Price Performance

Shares of KNSL stock opened at $396.96 on Monday. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.43 and a beta of 0.96. Kinsale Capital Group, Inc. has a 12 month low of $349.00 and a 12 month high of $512.76. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $400.03 and a 200 day moving average price of $437.51.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. The company had revenue of $497.51 million for the quarter, compared to analyst estimates of $446.00 million. During the same quarter last year, the firm earned $4.20 EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. Research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group declared that its board has initiated a stock buyback program on Thursday, December 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Friday, November 28th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, November 28th. Kinsale Capital Group’s payout ratio is currently 3.34%.

Analyst Ratings Changes

A number of research firms recently weighed in on KNSL. TD Cowen dropped their price target on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Royal Bank Of Canada started coverage on shares of Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $483.78.

Kinsale Capital Group Profile

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.