Arcus Capital Partners LLC boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 18.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,898 shares of the financial services provider's stock after purchasing an additional 596 shares during the quarter. Kinsale Capital Group accounts for about 0.7% of Arcus Capital Partners LLC's portfolio, making the stock its 27th largest holding. Arcus Capital Partners LLC's holdings in Kinsale Capital Group were worth $1,813,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in Kinsale Capital Group during the second quarter worth about $481,000. CWM LLC boosted its stake in Kinsale Capital Group by 8.8% in the third quarter. CWM LLC now owns 406 shares of the financial services provider's stock valued at $189,000 after buying an additional 33 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Kinsale Capital Group by 32.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,580 shares of the financial services provider's stock worth $736,000 after acquiring an additional 385 shares in the last quarter. Swedbank AB grew its holdings in shares of Kinsale Capital Group by 5.0% during the 3rd quarter. Swedbank AB now owns 42,060 shares of the financial services provider's stock valued at $19,582,000 after purchasing an additional 2,010 shares during the last quarter. Finally, Griffin Asset Management Inc. bought a new position in Kinsale Capital Group in the 3rd quarter valued at approximately $228,000. Institutional investors and hedge funds own 85.36% of the company's stock.
Analyst Ratings Changes
KNSL has been the subject of several research analyst reports. Morgan Stanley lowered their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating for the company in a report on Friday. JMP Securities reissued a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday. Truist Financial raised their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a "buy" rating in a research note on Tuesday. Wolfe Research upgraded Kinsale Capital Group from a "peer perform" rating to an "outperform" rating and set a $535.00 target price on the stock in a report on Monday, October 28th. Finally, BMO Capital Markets lifted their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a "market perform" rating in a research report on Thursday, November 21st. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $468.56.
Check Out Our Latest Research Report on KNSL
Insider Activity at Kinsale Capital Group
In other news, EVP Diane D. Schnupp sold 500 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the sale, the executive vice president now directly owns 6,994 shares in the company, valued at $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Joseph Ritchie sold 2,295 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now directly owns 7,348 shares in the company, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,235 shares of company stock worth $3,618,954. Corporate insiders own 5.60% of the company's stock.
Kinsale Capital Group Stock Performance
Shares of NYSE KNSL traded down $7.84 during midday trading on Tuesday, reaching $441.50. The company's stock had a trading volume of 309,542 shares, compared to its average volume of 224,905. The firm has a 50 day moving average price of $458.10 and a 200-day moving average price of $465.89. The stock has a market capitalization of $10.28 billion, a P/E ratio of 25.17, a PEG ratio of 1.82 and a beta of 1.15. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $548.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09.
Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating analysts' consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $412.12 million for the quarter, compared to analysts' expectations of $418.32 million. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 15.67 earnings per share for the current year.
Kinsale Capital Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a $0.17 dividend. The ex-dividend date is Thursday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.15%. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's payout ratio is 3.42%.
Kinsale Capital Group Profile
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Free Report)
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.
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