California Public Employees Retirement System Increases Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

California Public Employees Retirement System increased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,341 shares of the financial services provider's stock after purchasing an additional 4,146 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Kinsale Capital Group worth $18,299,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Kinsale Capital Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider's stock worth $246,810,000 after acquiring an additional 29,686 shares during the last quarter. LPL Financial LLC lifted its position in Kinsale Capital Group by 29.4% during the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock valued at $9,310,000 after purchasing an additional 4,644 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Kinsale Capital Group during the 4th quarter valued at about $1,071,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kinsale Capital Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider's stock valued at $70,907,000 after acquiring an additional 3,970 shares during the last quarter. Finally, Argent Capital Management LLC purchased a new position in Kinsale Capital Group in the fourth quarter worth about $1,736,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms have commented on KNSL. 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. 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 note on Friday, February 14th. Truist Financial lifted their target price 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. lowered their price objective on shares of 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. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $468.56.

Kinsale Capital Group Stock Up 7.7 %

Shares of NYSE KNSL traded up $33.80 during trading hours on Wednesday, hitting $471.26. 147,834 shares of the stock were exchanged, compared to its average volume of 175,285. The firm has a fifty day moving average price of $458.13 and a 200-day moving average price of $461.75. Kinsale Capital Group, Inc. has a 12 month low of $355.12 and a 12 month high of $531.79. The company has a market cap of $10.97 billion, a PE ratio of 26.49, a PEG ratio of 1.66 and a beta of 1.16. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS 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 the consensus estimate of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. On average, sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently declared 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 yield of 0.14%. Kinsale Capital Group's dividend payout ratio is 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.