Louisiana State Employees Retirement System purchased a new position in Kinsale Capital Group Inc (NASDAQ:KNSL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,100 shares of the financial services provider’s stock, valued at approximately $722,000.
Other hedge funds also recently added to or reduced their stakes in the company. Calamos Advisors LLC grew its holdings in Kinsale Capital Group by 20.2% in the fourth quarter. Calamos Advisors LLC now owns 46,550 shares of the financial services provider’s stock worth $4,732,000 after purchasing an additional 7,825 shares during the period. Mitchell Sinkler & Starr PA purchased a new stake in shares of Kinsale Capital Group during the fourth quarter valued at approximately $226,000. State of Alaska Department of Revenue purchased a new stake in shares of Kinsale Capital Group during the fourth quarter valued at approximately $1,582,000. Man Group plc purchased a new stake in shares of Kinsale Capital Group during the third quarter valued at approximately $1,271,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Kinsale Capital Group during the third quarter valued at approximately $320,000. 82.70% of the stock is owned by institutional investors.
In related news, COO Brian D. Haney sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $105.82, for a total value of $238,095.00. Following the sale, the chief operating officer now owns 177,249 shares in the company, valued at $18,756,489.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne C. Kronenberg bought 2,293 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was bought at an average price of $87.22 per share, for a total transaction of $199,995.46. Following the acquisition, the director now directly owns 4,574 shares of the company’s stock, valued at approximately $398,944.28. The disclosure for this purchase can be found here. Insiders sold 19,750 shares of company stock worth $1,944,908 in the last 90 days. 8.30% of the stock is currently owned by corporate insiders.
Kinsale Capital Group (NASDAQ:KNSL) last issued its earnings results on Friday, November 1st. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.02). Kinsale Capital Group had a return on equity of 15.68% and a net margin of 17.83%. The company had revenue of $78.33 million during the quarter, compared to analysts’ expectations of $76.24 million. As a group, sell-side analysts anticipate that Kinsale Capital Group Inc will post 2.39 earnings per share for the current year.
A number of equities research analysts have recently commented on KNSL shares. Zacks Investment Research upgraded shares of Kinsale Capital Group from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a report on Saturday, January 4th. SunTrust Banks increased their price target on shares of Kinsale Capital Group to $110.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group increased their price target on shares of Kinsale Capital Group to $112.00 and gave the company a “positive” rating in a report on Thursday, September 26th. ValuEngine cut shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Finally, BidaskClub upgraded shares of Kinsale Capital Group from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Kinsale Capital Group currently has an average rating of “Buy” and an average target price of $105.50.
About Kinsale Capital Group
Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.
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