It is my 2nd largest position at an average price of 370$. Management has always been cautious and they said 30-40% growth rates won't last forever. However, I think they can achieve at least 15% EPS growth in the next few years and beat the market. Multiple contraction is indeed a risk, and that is why I don't add more to my already large position at this price. For those you don't have a position, I think this is a good starting point. But if Kinsale falls to the range of 22-23 PE, I would add even more, because it is a high quality business with great, down to earth management. I think it deserves a premium.
Thanks for your comment, Beatriz. Great entry in the $370 range. Definetly agree that Kinsale should be able to achieve a 15% EPS CAGR moving forward. Very interesting investing case, I of course hope it falls to 22-23 PE so we can pick up some cheap(er) shares!
It is my 2nd largest position at an average price of 370$. Management has always been cautious and they said 30-40% growth rates won't last forever. However, I think they can achieve at least 15% EPS growth in the next few years and beat the market. Multiple contraction is indeed a risk, and that is why I don't add more to my already large position at this price. For those you don't have a position, I think this is a good starting point. But if Kinsale falls to the range of 22-23 PE, I would add even more, because it is a high quality business with great, down to earth management. I think it deserves a premium.
Thanks for your comment, Beatriz. Great entry in the $370 range. Definetly agree that Kinsale should be able to achieve a 15% EPS CAGR moving forward. Very interesting investing case, I of course hope it falls to 22-23 PE so we can pick up some cheap(er) shares!