Quest Partners LLC Makes New $762,000 Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

Quest Partners LLC bought a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,636 shares of the financial services provider’s stock, valued at approximately $762,000.

Several other hedge funds and other institutional investors have also modified their holdings of KNSL. ORG Wealth Partners LLC purchased a new stake in Kinsale Capital Group in the 3rd quarter worth about $26,000. UMB Bank n.a. lifted its position in shares of Kinsale Capital Group by 408.3% in the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 49 shares in the last quarter. Trust Co. of Vermont boosted its holdings in shares of Kinsale Capital Group by 113.6% during the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 50 shares during the period. Signaturefd LLC grew its position in Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 42 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Kinsale Capital Group by 225.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KNSL. Jefferies Financial Group boosted their price target 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. Royal Bank of Canada dropped their price target on shares of 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. Truist Financial decreased their price target 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. BMO Capital Markets raised their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Wolfe Research raised 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. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $456.88.

Kinsale Capital Group Stock Performance

KNSL opened at $491.58 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $458.87 and its two-hundred day moving average price is $431.02. The firm has a market capitalization of $11.45 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 2.02 and a beta of 1.09. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47.

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

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio is currently 3.42%.

About Kinsale Capital Group

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.