HighTower Advisors LLC Sells 179 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

HighTower Advisors LLC lowered its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,820 shares of the financial services provider’s stock after selling 179 shares during the period. HighTower Advisors LLC’s holdings in Kinsale Capital Group were worth $4,568,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KNSL. Handelsbanken Fonder AB increased its stake in shares of Kinsale Capital Group by 1,119.0% in the fourth quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock worth $32,885,000 after purchasing an additional 64,900 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Kinsale Capital Group by 65.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock worth $69,471,000 after buying an additional 58,971 shares during the period. Proficio Capital Partners LLC purchased a new position in Kinsale Capital Group in the 4th quarter valued at approximately $22,933,000. DAVENPORT & Co LLC raised its holdings in Kinsale Capital Group by 9.6% during the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after acquiring an additional 44,931 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Kinsale Capital Group during the third quarter worth $18,599,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. BMO Capital Markets increased their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Finally, Truist Financial increased their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Price Performance

KNSL stock opened at $451.85 on Thursday. The firm has a 50 day simple moving average of $445.33 and a two-hundred day simple moving average of $460.60. The stock has a market cap of $10.52 billion, a PE ratio of 25.40, a P/E/G ratio of 1.66 and a beta of 1.25. Kinsale Capital Group, Inc. has a one year low of $355.12 and a one 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 announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (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 company had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. On average, analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.15%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.82%.

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.