Franklin Resources Inc. Has $52.55 Million Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Franklin Resources Inc. raised its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,985 shares of the financial services provider's stock after purchasing an additional 15,865 shares during the quarter. Franklin Resources Inc. owned 0.49% of Kinsale Capital Group worth $52,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its stake in Kinsale Capital Group by 486.3% in the fourth quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock worth $99,559,000 after buying an additional 177,540 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Kinsale Capital Group by 29.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,026 shares of the financial services provider's stock worth $477,000 after buying an additional 236 shares during the period. Physician Wealth Advisors Inc. purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $49,000. California Public Employees Retirement System lifted its stake in Kinsale Capital Group by 11.8% in the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider's stock worth $18,299,000 after purchasing an additional 4,146 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Kinsale Capital Group in the fourth quarter worth $3,746,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Down 0.8 %

NYSE KNSL traded down $3.97 during mid-day trading on Thursday, reaching $467.38. 30,025 shares of the company's stock traded hands, compared to its average volume of 174,734. The company has a fifty day simple moving average of $458.13 and a 200-day simple moving average of $461.75. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $531.79. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 1.66 and a beta of 1.16. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.39. The company had revenue of $412.12 million for the quarter, compared to the consensus estimate of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KNSL. Truist Financial raised 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, February 18th. Morgan Stanley decreased their target price 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. JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. JMP Securities reissued a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.