RE Advisers Corp raised its position in shares of Kinsale Capital Group, Inc. (NASDAQ:KNSL) by 99.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,298,571 shares of the financial services provider’s stock after buying an additional 648,571 shares during the period. RE Advisers Corp owned approximately 6.19% of Kinsale Capital Group worth $48,450,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Kinsale Capital Group during the fourth quarter worth about $1,814,000. Old Mutual Global Investors UK Ltd. acquired a new position in Kinsale Capital Group during the first quarter worth about $793,000. State Street Corp increased its position in Kinsale Capital Group by 121.4% in the fourth quarter. State Street Corp now owns 99,416 shares of the financial services provider’s stock worth $3,382,000 after buying an additional 54,503 shares during the last quarter. Victory Capital Management Inc. increased its position in Kinsale Capital Group by 1.2% in the first quarter. Victory Capital Management Inc. now owns 830,650 shares of the financial services provider’s stock worth $26,614,000 after buying an additional 9,535 shares during the last quarter. Finally, Blair William & Co. IL increased its position in Kinsale Capital Group by 2.5% in the first quarter. Blair William & Co. IL now owns 48,450 shares of the financial services provider’s stock worth $1,422,000 after buying an additional 1,200 shares during the last quarter. Institutional investors own 56.31% of the company’s stock.
Shares of Kinsale Capital Group, Inc. (KNSL) traded up 0.60% during mid-day trading on Monday, hitting $38.54. 25,629 shares of the company were exchanged. Kinsale Capital Group, Inc. has a 12-month low of $18.00 and a 12-month high of $42.09. The firm has a 50 day moving average of $36.73 and a 200 day moving average of $33.47. The company has a market capitalization of $808.11 million and a price-to-earnings ratio of 68.33.
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KNSL has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Kinsale Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada restated a “buy” rating and set a $38.00 target price on shares of Kinsale Capital Group in a research report on Tuesday, July 18th. Finally, SunTrust Banks, Inc. restated a “buy” rating on shares of Kinsale Capital Group in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Kinsale Capital Group currently has a consensus rating of “Buy” and a consensus price target of $30.00.
In related news, major shareholder Moelis Capital Partners Opport sold 4,307,774 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $31.60, for a total value of $136,125,658.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frederick L. Jr. Russell sold 250,000 shares of Kinsale Capital Group stock in a transaction that occurred 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 disclosure for this sale can be found here. 11.20% of the stock is owned by insiders.
About Kinsale Capital Group
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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