Sanders Morris Harris LLC Acquires New Shares in Kinsale Capital Group, Inc. $KNSL

Sanders Morris Harris LLC acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,850 shares of the financial services provider’s stock, valued at approximately $920,000.

Other large investors also recently made changes to their positions in the company. Bamco Inc. NY bought a new stake in shares of Kinsale Capital Group in the second quarter valued at about $878,600,000. BlackRock Inc. acquired a new stake in Kinsale Capital Group in the 2nd quarter valued at about $671,457,000. First Manhattan CO. LLC. boosted its position in Kinsale Capital Group by 19.6% during the fourth 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. Turtle Creek Asset Management Inc. raised its holdings in Kinsale Capital Group by 47.6% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock valued at $140,506,000 after acquiring an additional 132,576 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Kinsale Capital Group by 5.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 299,832 shares of the financial services provider’s stock worth $102,435,000 after purchasing an additional 14,178 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KNSL. Morgan Stanley dropped their price target on shares of Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Weiss Ratings raised Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $390.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, October 9th. Wells Fargo & Company lowered their price objective on Kinsale Capital Group from $377.00 to $348.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Cantor Fitzgerald upped their price target on Kinsale Capital Group from $259.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Kinsale Capital Group presently has an average rating of “Reduce” and an average price target of $357.67.

Kinsale Capital Group Price Performance

KNSL opened at $348.70 on Thursday. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $473.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a 50-day moving average of $360.34 and a 200 day moving average of $340.82. The firm has a market cap of $7.94 billion, a P/E ratio of 14.13, a PEG ratio of 1.07 and a beta of 0.88.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. The business had revenue of $548.52 million for the quarter, compared to analysts’ expectations of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.78 EPS. On average, research analysts expect that Kinsale Capital Group, Inc. will post 21.17 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, August 28th. Kinsale Capital Group’s payout ratio is presently 4.05%.

About Kinsale Capital Group

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, including Kinsale Insurance Company, the company provides commercial property and casualty insurance in the United States.

Kinsale focuses primarily on the excess and surplus lines market, which serves businesses with risks that may not be accommodated by standard insurance carriers. Its offerings include coverage for commercial property, general liability, professional liability, commercial auto, and other specialized risks.