Covestor Ltd Buys 64 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Covestor Ltd boosted its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 27.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296 shares of the financial services provider’s stock after buying an additional 64 shares during the period. Covestor Ltd’s holdings in Kinsale Capital Group were worth $138,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in KNSL. Harbor Capital Advisors Inc. increased its stake in Kinsale Capital Group by 249.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after purchasing an additional 3,818 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Kinsale Capital Group by 44.3% during the first quarter. Russell Investments Group Ltd. now owns 37,328 shares of the financial services provider’s stock worth $19,588,000 after acquiring an additional 11,451 shares in the last quarter. Swedbank AB acquired a new stake in shares of Kinsale Capital Group in the 2nd quarter worth about $15,430,000. QRG Capital Management Inc. acquired a new position in Kinsale Capital Group during the 2nd quarter valued at about $503,000. Finally, Bridges Investment Management Inc. bought a new stake in Kinsale Capital Group during the 2nd quarter worth approximately $642,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Up 4.6 %

NYSE KNSL opened at $477.19 on Tuesday. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The stock has a market cap of $11.11 billion, a PE ratio of 26.86, a P/E/G ratio of 1.97 and a beta of 1.09. The stock’s 50 day moving average is $458.38 and its 200 day moving average is $426.37.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping the consensus estimate of $3.60 by $0.60. The firm had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.31 earnings per share. Research analysts predict that Kinsale Capital Group, Inc. will post 15.52 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. Kinsale Capital Group’s payout ratio is 3.42%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KNSL. Royal Bank of Canada dropped their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. dropped their price target on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research report on Monday, October 28th. Finally, Truist Financial cut their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $455.88.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.