Van ECK Associates Corp Purchases 4,613 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Van ECK Associates Corp increased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,144 shares of the financial services provider's stock after purchasing an additional 4,613 shares during the quarter. Van ECK Associates Corp owned approximately 0.07% of Kinsale Capital Group worth $7,404,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KNSL. Jackson Square Partners LLC bought a new position in Kinsale Capital Group in the 1st quarter worth $48,035,000. Champlain Investment Partners LLC boosted its stake in Kinsale Capital Group by 58.9% during the first quarter. Champlain Investment Partners LLC now owns 243,474 shares of the financial services provider's stock worth $127,761,000 after buying an additional 90,209 shares in the last quarter. Natixis Investment Managers International bought a new stake in Kinsale Capital Group in the 1st quarter valued at $35,850,000. Artemis Investment Management LLP acquired a new position in shares of Kinsale Capital Group in the 2nd quarter valued at $25,476,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Kinsale Capital Group by 75.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider's stock valued at $62,375,000 after buying an additional 57,460 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNSL has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. Jefferies Financial Group lifted their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Royal Bank of Canada lowered their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a "sector perform" rating on the stock in a report on Monday, October 28th. Wolfe Research raised 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 report on Monday, October 28th. Finally, Truist Financial decreased their price target on Kinsale Capital Group from $530.00 to $500.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of "Hold" and a consensus target price of $455.88.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded up $5.92 on Friday, hitting $454.18. The company's stock had a trading volume of 60,555 shares, compared to its average volume of 174,905. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47. The stock has a fifty day moving average of $459.08 and a two-hundred day moving average of $426.90. The firm has a market capitalization of $10.58 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.60 by $0.60. The company had revenue of $418.06 million during the quarter, compared to analysts' expectations of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. Kinsale Capital Group's quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.31 earnings per share. Research analysts predict that Kinsale Capital Group, Inc. will post 15.48 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group's dividend payout ratio is presently 3.42%.

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.