Spark Investment Management LLC Acquires New Position in Kinsale Capital Group, Inc. (KNSL)

Spark Investment Management LLC acquired a new position in shares of Kinsale Capital Group, Inc. (NASDAQ:KNSL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 46,700 shares of the financial services provider’s stock, valued at approximately $1,742,000.

A number of other large investors also recently made changes to their positions in the stock. Strs Ohio raised its stake in shares of Kinsale Capital Group by 3.2% in the second quarter. Strs Ohio now owns 19,400 shares of the financial services provider’s stock worth $723,000 after buying an additional 600 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Kinsale Capital Group by 17.0% in the second quarter. Russell Investments Group Ltd. now owns 3,540 shares of the financial services provider’s stock worth $132,000 after buying an additional 515 shares during the period. RE Advisers Corp raised its stake in shares of Kinsale Capital Group by 99.8% in the second quarter. RE Advisers Corp now owns 1,298,571 shares of the financial services provider’s stock worth $48,450,000 after buying an additional 648,571 shares during the period. Grandeur Peak Global Advisors LLC raised its stake in shares of Kinsale Capital Group by 34.9% in the first quarter. Grandeur Peak Global Advisors LLC now owns 134,725 shares of the financial services provider’s stock worth $4,317,000 after buying an additional 34,825 shares during the period. Finally, Granahan Investment Management Inc. MA raised its stake in shares of Kinsale Capital Group by 16.7% in the first quarter. Granahan Investment Management Inc. MA now owns 103,131 shares of the financial services provider’s stock worth $3,304,000 after buying an additional 14,741 shares during the period. 59.87% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group, Inc. (NASDAQ KNSL) opened at 41.88 on Tuesday. The stock has a market capitalization of $878.14 million and a price-to-earnings ratio of 74.26. The company has a 50 day moving average of $37.40 and a 200-day moving average of $33.87. Kinsale Capital Group, Inc. has a 12-month low of $18.28 and a 12-month high of $43.62.

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A number of brokerages have issued reports on KNSL. Zacks Investment Research raised shares of Kinsale Capital Group from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Tuesday. SunTrust Banks, Inc. set a $46.00 price objective on shares of Kinsale Capital Group and gave the company a “buy” rating in a report on Monday. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $41.00 price objective on shares of Kinsale Capital Group in a report on Sunday. Five analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $39.00.

In related news, Director Frederick L. Jr. Russell sold 250,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $31.60, for a total value of $7,900,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Moelis Capital Partners Opport sold 4,307,774 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $31.60, for a total value of $136,125,658.40. The disclosure for this sale can be found here. Corporate insiders own 11.20% of the company’s stock.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.

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Institutional Ownership by Quarter for Kinsale Capital Group (NASDAQ:KNSL)

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