KLP Kapitalforvaltning AS Invests $2.09 Million in Kinsale Capital Group, Inc. (NYSE:KNSL)

KLP Kapitalforvaltning AS bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,500 shares of the financial services provider's stock, valued at approximately $2,093,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Kinsale Capital Group in the fourth quarter worth $25,000. Bank of Jackson Hole Trust purchased a new position in Kinsale Capital Group in the fourth quarter worth about $31,000. Larson Financial Group LLC grew its stake in shares of Kinsale Capital Group by 7,400.0% during the 4th quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 74 shares during the period. Allworth Financial LP increased its position in shares of Kinsale Capital Group by 450.0% during the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 72 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Kinsale Capital Group in the 4th quarter worth approximately $46,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KNSL. Truist Financial upped their target price 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. decreased their target price on Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a 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. Finally, Morgan Stanley dropped 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 report on Friday, February 14th. 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 data from MarketBeat, Kinsale Capital Group currently has an average rating of "Hold" and an average price target of $468.56.

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Kinsale Capital Group Price Performance

Kinsale Capital Group stock traded up $1.30 during mid-day trading on Tuesday, reaching $488.01. 159,194 shares of the company's stock traded hands, compared to its average volume of 175,221. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $531.79. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $454.36 and a two-hundred day moving average of $461.38. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.66 and a beta of 1.25.

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

Kinsale Capital Group Increases Dividend

The business 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 a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. Kinsale Capital Group's payout ratio is 3.82%.

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.