Pinebridge Investments L.P. Raises Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Pinebridge Investments L.P. lifted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 42.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,915 shares of the financial services provider's stock after buying an additional 1,769 shares during the quarter. Pinebridge Investments L.P.'s holdings in Kinsale Capital Group were worth $2,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Kinsale Capital Group by 34.4% in the third quarter. Barclays PLC now owns 11,772 shares of the financial services provider's stock valued at $5,480,000 after acquiring an additional 3,014 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Kinsale Capital Group during the third quarter valued at $398,000. Franklin Resources Inc. increased its stake in Kinsale Capital Group by 14.3% in the 3rd quarter. Franklin Resources Inc. now owns 97,120 shares of the financial services provider's stock worth $45,869,000 after acquiring an additional 12,125 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Kinsale Capital Group by 39.7% in the fourth quarter. GAMMA Investing LLC now owns 521 shares of the financial services provider's stock worth $242,000 after purchasing an additional 148 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Kinsale Capital Group in the fourth quarter worth approximately $265,000. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Trading Up 2.3 %

NYSE KNSL traded up $9.86 on Tuesday, hitting $434.05. The company's stock had a trading volume of 221,805 shares, compared to its average volume of 173,884. The firm has a market cap of $10.10 billion, a P/E ratio of 24.40, a PEG ratio of 1.66 and a beta of 1.16. Kinsale Capital Group, Inc. has a 52-week low of $356.99 and a 52-week high of $531.79. The company's 50-day simple moving average is $460.12 and its 200 day simple moving average is $462.69. 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 announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, topping analysts' consensus estimates of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The company had revenue of $423.40 million during the quarter, compared to analyst estimates of $425.73 million. During the same quarter last year, the firm posted $3.50 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. Research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.16%. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's payout ratio is currently 3.91%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KNSL. JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Royal Bank of Canada reiterated a "sector perform" rating and set a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a research note on Monday. Truist Financial lowered their price objective on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a report on Monday. Finally, Morgan Stanley decreased their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has an average rating of "Hold" and a consensus price target of $464.44.

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.