Ashton Thomas Private Wealth LLC Takes Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Ashton Thomas Private Wealth LLC bought a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,016 shares of the financial services provider's stock, valued at approximately $473,000.

Several other institutional investors also recently bought and sold shares of KNSL. Handelsbanken Fonder AB increased its position in shares of Kinsale Capital Group by 1,119.0% during 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 increased its position in Kinsale Capital Group by 65.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider's stock valued at $69,471,000 after buying an additional 58,971 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Kinsale Capital Group in the fourth quarter valued at about $22,933,000. DAVENPORT & Co LLC boosted its holdings in Kinsale Capital Group by 9.6% in the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider's stock worth $238,193,000 after acquiring an additional 44,931 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in shares of Kinsale Capital Group during the third quarter worth about $18,599,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares in the company, valued at approximately $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.60% of the stock is owned by insiders.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KNSL shares. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Royal Bank of Canada restated a "sector perform" rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. BMO Capital Markets lifted their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the company a "market perform" rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. Finally, Truist Financial increased their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Kinsale Capital Group has a consensus rating of "Hold" and a consensus price target of $468.56.

Kinsale Capital Group Price Performance

Shares of KNSL stock traded up $7.09 during trading hours on Tuesday, reaching $456.13. The company had a trading volume of 167,540 shares, compared to its average volume of 171,444. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $536.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.66 and a beta of 1.25. The stock has a fifty day moving average of $443.66 and a 200-day moving average of $462.13.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The company had revenue of $412.12 million during the quarter, compared to analysts' expectations of $418.32 million. On average, equities analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a dividend of $0.17 per share. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, February 27th. 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.