Raymond James Financial Inc. Invests $18.32 Million in Kinsale Capital Group, Inc. (NYSE:KNSL)

Raymond James Financial Inc. bought a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) in the fourth quarter, HoldingsChannel reports. The fund bought 39,392 shares of the financial services provider’s stock, valued at approximately $18,323,000.

A number of other hedge funds have also recently added to or reduced their stakes in KNSL. KBC Group NV grew its position in shares of Kinsale Capital Group by 11.0% during the third quarter. KBC Group NV now owns 584 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 58 shares during the last quarter. Huntington National Bank boosted its stake in Kinsale Capital Group by 55.1% during the 3rd quarter. Huntington National Bank now owns 318 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 113 shares during the period. Quest Partners LLC acquired a new position in Kinsale Capital Group in the third quarter valued at $762,000. Pathstone Holdings LLC grew its holdings in shares of Kinsale Capital Group by 1.5% during the third quarter. Pathstone Holdings LLC now owns 19,668 shares of the financial services provider’s stock worth $9,157,000 after buying an additional 294 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in Kinsale Capital Group by 5.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 763 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KNSL shares. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. BMO Capital Markets lifted their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Truist Financial increased their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley dropped their target price on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and an average target price of $468.56.

Kinsale Capital Group Stock Performance

KNSL opened at $457.63 on Tuesday. The stock’s 50 day simple moving average is $444.13 and its 200 day simple moving average is $460.94. The stock has a market cap of $10.65 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.66 and a beta of 1.25. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $536.84. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The business had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. As a group, equities analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a dividend of $0.17 per share. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.15%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.82%.

Kinsale Capital Group 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.