Empowered Funds LLC Acquires Shares of 2,303 Kinsale Capital Group, Inc. (NYSE:KNSL)

Empowered Funds LLC purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,303 shares of the financial services provider's stock, valued at approximately $1,071,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Kinsale Capital Group by 1.3% during the third quarter. State Street Corp now owns 689,386 shares of the financial services provider's stock worth $320,957,000 after purchasing an additional 8,954 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Kinsale Capital Group by 5.9% during the third 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 in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Kinsale Capital Group by 9.6% during the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider's stock worth $238,193,000 after purchasing an additional 44,931 shares in the last quarter. Geneva Capital Management LLC lifted 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. Finally, Copeland Capital Management LLC lifted its position in shares of Kinsale Capital Group by 0.3% during the third quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider's stock worth $107,687,000 after purchasing an additional 685 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the transaction, the director now owns 7,348 shares of the company's stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Kinsale Capital Group Stock Performance

KNSL stock traded down $12.70 during trading on Friday, hitting $428.74. 212,433 shares of the company's stock traded hands, compared to its average volume of 224,301. 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, Inc. has a 52 week low of $355.12 and a 52 week high of $548.47. The stock has a fifty day moving average price of $454.19 and a two-hundred day moving average price of $465.51. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. As a group, equities analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.17 per share. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.16%. Kinsale Capital Group's payout ratio is presently 3.37%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KNSL. Truist Financial boosted their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of 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. Morgan Stanley dropped their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Wolfe Research upgraded shares of Kinsale Capital Group from a "peer perform" rating to an "outperform" rating and set a $535.00 price target for the company in a research note on Monday, October 28th. Finally, JMP Securities restated a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $468.56.

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.