Kinsale Capital Group Inc. Acquires 6,798 Shares of Old Dominion Freight Line, Inc. $ODFL

Kinsale Capital Group Inc. lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,140 shares of the transportation company’s stock after purchasing an additional 6,798 shares during the quarter. Old Dominion Freight Line accounts for approximately 1.5% of Kinsale Capital Group Inc.’s holdings, making the stock its 27th biggest position. Kinsale Capital Group Inc.’s holdings in Old Dominion Freight Line were worth $9,602,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC increased its position in Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. Kera Capital Partners Inc. bought a new position in shares of Old Dominion Freight Line in the first quarter worth approximately $203,000. Gryphon Financial Partners LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter worth $241,000. Assetmark Inc. raised its stake in Old Dominion Freight Line by 14.3% during the 1st quarter. Assetmark Inc. now owns 1,547 shares of the transportation company’s stock valued at $302,000 after purchasing an additional 193 shares during the period. Finally, Angeles Wealth Management LLC lifted its holdings in shares of Old Dominion Freight Line by 21.0% in the first quarter. Angeles Wealth Management LLC now owns 2,577 shares of the transportation company’s stock worth $504,000 after buying an additional 447 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Susquehanna increased their price target on shares of Old Dominion Freight Line from $224.00 to $228.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Citigroup upgraded Old Dominion Freight Line from a “sell” rating to a “neutral” rating and set a $228.00 price objective on the stock in a report on Thursday, July 9th. Wolfe Research raised their price target on Old Dominion Freight Line from $183.00 to $185.00 and gave the company an “underperform” rating in a research note on Tuesday, April 7th. Finally, Jefferies Financial Group lifted their price objective on Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a report on Tuesday, June 9th. Ten equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $222.00.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Trading Down 1.4%

Shares of NASDAQ:ODFL opened at $233.84 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03. The business’s fifty day simple moving average is $221.78 and its 200-day simple moving average is $202.17. The company has a market capitalization of $48.63 billion, a PE ratio of 48.92, a P/E/G ratio of 4.23 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.55 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 24.27%.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.