Griffin Asset Management Inc. Makes New Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

Griffin Asset Management Inc. purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the third quarter, HoldingsChannel reports. The institutional investor purchased 489 shares of the financial services provider’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Kinsale Capital Group by 1.5% during 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 acquiring an additional 30,729 shares during the period. PNC Financial Services Group Inc. increased its position in Kinsale Capital Group by 23.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,131 shares of the financial services provider’s stock worth $1,384,000 after buying an additional 781 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth about $282,000. Mather Group LLC. purchased a new position in shares of Kinsale Capital Group during the 1st quarter valued at about $72,000. Finally, Park Avenue Securities LLC lifted its position in shares of Kinsale Capital Group by 16.8% during the 1st quarter. Park Avenue Securities LLC now owns 3,455 shares of the financial services provider’s stock valued at $1,813,000 after buying an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 1.2 %

Shares of KNSL stock opened at $471.40 on Thursday. The company’s fifty day simple moving average is $469.67 and its two-hundred day simple moving average is $427.83. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47. The stock has a market cap of $10.97 billion, a P/E ratio of 31.32, a PEG ratio of 2.05 and a beta of 1.08. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The company had revenue of $384.55 million during the quarter, compared to analyst estimates of $410.20 million. During the same period in the prior year, the company earned $2.88 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. Analysts predict that Kinsale Capital Group, Inc. will post 15.31 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group increased their target price on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. 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. JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Oppenheimer began coverage on Kinsale Capital Group in a research note on Friday, July 12th. They issued a “market perform” rating for the company. Finally, Wolfe Research downgraded Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group has an average rating of “Hold” and an average target price of $446.00.

About Kinsale Capital Group

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.