Commonwealth Equity Services LLC Acquires 2,322 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Commonwealth Equity Services LLC boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 42.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,788 shares of the financial services provider’s stock after buying an additional 2,322 shares during the period. Commonwealth Equity Services LLC’s holdings in Kinsale Capital Group were worth $3,622,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KNSL. State Street Corp raised its position in shares of Kinsale Capital Group by 1.3% during the third quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock worth $320,957,000 after acquiring an additional 8,954 shares during the last quarter. Geode Capital Management LLC increased its position in Kinsale Capital Group by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after purchasing an additional 29,686 shares during the period. DAVENPORT & Co LLC increased its position 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 purchasing an additional 44,931 shares during the period. DF Dent & Co. Inc. raised its holdings in Kinsale Capital Group by 3.0% during the 3rd quarter. DF Dent & Co. Inc. now owns 226,614 shares of the financial services provider’s stock worth $105,505,000 after purchasing an additional 6,679 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Kinsale Capital Group by 2.9% in the 4th quarter. Bank of New York Mellon Corp now owns 183,345 shares of the financial services provider’s stock worth $85,279,000 after purchasing an additional 5,213 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KNSL shares. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Morgan Stanley cut 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. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, Truist Financial increased their price target on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $468.56.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $481.98 on Tuesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $448.46 and a 200 day simple moving average of $460.38. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $536.84. The company has a market cap of $11.22 billion, a P/E ratio of 27.09, a PEG ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results 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 company had revenue of $412.12 million during the quarter, compared to the consensus estimate of $418.32 million. Sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Thursday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. 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.