Westfield Capital Management Co. LP Increases Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Westfield Capital Management Co. LP boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 65.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 149,217 shares of the financial services provider’s stock after purchasing an additional 58,971 shares during the period. Westfield Capital Management Co. LP’s holdings in Kinsale Capital Group were worth $69,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of KNSL. ORG Wealth Partners LLC purchased a new position in shares of Kinsale Capital Group during the 3rd quarter worth approximately $26,000. UMB Bank n.a. lifted its position in shares of Kinsale Capital Group by 408.3% in the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. 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 purchasing an additional 50 shares in the last quarter. Signaturefd LLC raised its stake in Kinsale Capital Group by 68.9% in the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 42 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Kinsale Capital Group by 225.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 1.8 %

Shares of NYSE KNSL opened at $498.69 on Friday. The stock has a market capitalization of $11.61 billion, a PE ratio of 28.43, a P/E/G ratio of 2.10 and a beta of 1.09. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $460.24 and a 200-day moving average of $432.42. Kinsale Capital Group, Inc. has a 52-week low of $325.01 and a 52-week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. The firm 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 quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.31 earnings per share. On average, analysts anticipate that Kinsale Capital Group, Inc. will post 15.52 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently announced 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s payout ratio is currently 3.42%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KNSL. Truist Financial cut their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research note on Monday, October 28th. BMO Capital Markets boosted their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Jefferies Financial Group upped their target price 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. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and a consensus price target of $456.88.

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.