Covey Capital Advisors LLC Purchases New Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Covey Capital Advisors LLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,257 shares of the financial services provider’s stock, valued at approximately $585,000.

Several other hedge funds have also recently bought and sold shares of KNSL. Geode Capital Management LLC raised its stake in shares of Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after purchasing an additional 29,686 shares during the period. Avior Wealth Management LLC raised its stake in shares of Kinsale Capital Group by 7,392.9% during the third quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 1,035 shares during the period. Geneva Capital Management LLC raised its stake in shares of Kinsale Capital Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after purchasing an additional 5,207 shares during the period. Swedbank AB raised its stake in shares of Kinsale Capital Group by 5.0% during the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock valued at $19,582,000 after purchasing an additional 2,010 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kinsale Capital Group by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,475 shares of the financial services provider’s stock valued at $69,126,000 after purchasing an additional 3,469 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 500 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the transaction, the director now directly owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. This trade represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KNSL has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. BMO Capital Markets raised their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a research report on Monday, October 28th. Truist Financial raised their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $468.56.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $442.05 on Friday. The company has a market cap of $10.29 billion, a PE ratio of 24.85, a P/E/G ratio of 1.63 and a beta of 1.15. The company has a fifty day moving average price of $455.49 and a two-hundred day moving average price of $465.68. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 12 month low of $355.12 and a 12 month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39. The firm had revenue of $412.12 million during the quarter, compared to the consensus estimate of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. Research analysts expect that Kinsale Capital Group, Inc. will post 18.06 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Thursday, February 27th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is currently 3.82%.

Kinsale Capital Group Company 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.