Connable Office Inc. Takes $323,000 Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Connable Office Inc. purchased a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 695 shares of the financial services provider's stock, valued at approximately $323,000.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings 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 buying an additional 29,686 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Kinsale Capital Group by 7,392.9% in the third quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider's stock worth $488,000 after acquiring an additional 1,035 shares during the period. Geneva Capital Management LLC grew its position in shares of Kinsale Capital Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider's stock worth $189,874,000 after purchasing an additional 5,207 shares in the last quarter. Swedbank AB grew its position in shares of 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 purchasing an additional 2,010 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Kinsale Capital Group by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 148,475 shares of the financial services provider's stock valued at $69,126,000 after purchasing an additional 3,469 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

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Kinsale Capital Group Stock Up 1.0 %

Shares of Kinsale Capital Group stock traded up $4.38 during trading on Wednesday, hitting $437.52. 193,762 shares of the stock traded hands, compared to its average volume of 172,228. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The firm has a market cap of $10.18 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. The stock's fifty day simple moving average is $445.88 and its 200 day simple moving average is $463.24. Kinsale Capital Group, Inc. has a 52-week low of $355.12 and a 52-week high of $548.47.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly 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 26.13% and a return on equity of 28.04%. The business had revenue of $412.12 million for the quarter, compared to analysts' expectations of $418.32 million. On average, equities analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a $0.17 dividend. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, February 27th. Kinsale Capital Group's dividend payout ratio is 3.82%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, EVP Diane D. Schnupp sold 500 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the transaction, the executive vice president now directly owns 6,994 shares of the company's stock, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.60% of the stock is owned by corporate insiders.

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.