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

Commonwealth Equity Services LLC raised its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 42.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,788 shares of the financial services provider's stock after buying an additional 2,322 shares during the quarter. Commonwealth Equity Services LLC's holdings in Kinsale Capital Group were worth $3,622,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC grew its position 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 purchasing an additional 29,686 shares during the last quarter. Swedbank AB grew its position in Kinsale Capital Group by 5.0% during the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider's stock worth $19,582,000 after buying an additional 2,010 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Kinsale Capital Group by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,475 shares of the financial services provider's stock worth $69,126,000 after buying an additional 3,469 shares in the last quarter. Empowered Funds LLC bought a new position in Kinsale Capital Group during the fourth quarter valued at about $1,071,000. Finally, Argent Capital Management LLC acquired a new position in Kinsale Capital Group in the 4th quarter valued at approximately $1,736,000. 85.36% of the stock is owned by institutional investors.

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Kinsale Capital Group Price Performance

Shares of NYSE KNSL traded down $4.58 during trading on Friday, reaching $482.17. The company had a trading volume of 106,207 shares, compared to its average volume of 175,044. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $534.67. The business's 50 day moving average price is $451.47 and its 200-day moving average price is $460.87. The stock has a market cap of $11.22 billion, a PE ratio of 27.10, a PEG ratio of 1.66 and a beta of 1.25. 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 (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.39. The firm had revenue of $412.12 million during the quarter, compared to analysts' expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. Analysts expect 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 was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued 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 0.14%. The ex-dividend date was Thursday, February 27th. Kinsale Capital Group's payout ratio is currently 3.82%.

Wall Street Analysts Forecast Growth

KNSL has been the topic of several 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 on the stock in a report on Friday, February 14th. Truist Financial raised their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Royal Bank of Canada restated a "sector perform" rating and set a $500.00 target price on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group has an average rating of "Hold" and a consensus price target of $468.56.

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.