Bank of Montreal Can Has $5.88 Million Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bank of Montreal Can reduced its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 35.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,644 shares of the financial services provider's stock after selling 6,867 shares during the quarter. Bank of Montreal Can owned about 0.05% of Kinsale Capital Group worth $5,881,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Kinsale Capital Group in the 4th quarter valued at $89,200,000. Alliancebernstein L.P. raised its holdings in Kinsale Capital Group by 486.3% during the 4th quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock worth $99,559,000 after purchasing an additional 177,540 shares during the last quarter. Premier Fund Managers Ltd lifted its position in Kinsale Capital Group by 20,286.0% during the 4th quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider's stock valued at $48,813,000 after purchasing an additional 104,270 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Kinsale Capital Group by 1,119.0% in the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider's stock valued at $32,885,000 after purchasing an additional 64,900 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $22,933,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on KNSL. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Truist Financial raised their price target on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price objective 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. Morgan Stanley reduced their target price on Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $468.56.

Kinsale Capital Group Stock Up 0.7 %

NYSE KNSL traded up $3.36 during trading hours on Friday, reaching $487.01. 88,133 shares of the company's stock were exchanged, compared to its average volume of 175,063. The company's 50-day moving average is $458.88 and its two-hundred day moving average is $462.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a one year low of $355.12 and a one year high of $531.79. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, topping analysts' consensus estimates of $4.23 by $0.39. The firm had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. On average, analysts forecast 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. The ex-dividend date was Thursday, February 27th. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. 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.