Virtu Financial LLC Buys 1,985 Shares of Kinsale Capital Group, Inc. $KNSL

Virtu Financial LLC grew its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 175.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,118 shares of the financial services provider’s stock after acquiring an additional 1,985 shares during the quarter. Virtu Financial LLC’s holdings in Kinsale Capital Group were worth $1,219,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Bamco Inc. NY lifted its position in Kinsale Capital Group by 1.4% during the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock valued at $760,616,000 after purchasing an additional 24,796 shares during the period. Capital World Investors boosted its holdings in Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after purchasing an additional 533,499 shares during the last quarter. First Manhattan CO. LLC. grew its position in Kinsale Capital Group by 19.6% in the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after purchasing an additional 100,600 shares during the period. Life Cycle Investment Partners Ltd bought a new stake in Kinsale Capital Group in the 4th quarter worth approximately $229,653,000. Finally, DAVENPORT & Co LLC raised its stake in Kinsale Capital Group by 1.9% during the 4th quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock valued at $208,443,000 after buying an additional 10,137 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Christopher R. Tangard bought 330 shares of the stock in a transaction dated Monday, June 8th. The stock was purchased at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the transaction, the chief accounting officer owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Down 0.2%

Shares of NYSE:KNSL opened at $308.19 on Friday. The stock has a 50 day moving average of $320.21 and a 200 day moving average of $358.19. The company has a market cap of $7.11 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $512.76. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $3.71 earnings per share. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 20.65 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is 4.40%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KNSL shares. Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and lowered their price target for the company from $392.00 to $312.00 in a report on Thursday, March 19th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday. Wells Fargo & Company cut Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $420.00 to $357.00 in a research report on Monday, April 27th. Truist Financial lowered their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. dropped their target price on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $374.90.

Kinsale Capital Group Company 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.