LPL Financial LLC Boosts Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

LPL Financial LLC lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,415 shares of the financial services provider's stock after acquiring an additional 4,644 shares during the period. LPL Financial LLC owned 0.09% of Kinsale Capital Group worth $9,310,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $2,093,000. Sei Investments Co. grew its stake in Kinsale Capital Group by 4.1% during the 4th quarter. Sei Investments Co. now owns 91,042 shares of the financial services provider's stock valued at $42,351,000 after purchasing an additional 3,620 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Kinsale Capital Group by 8.8% during the fourth quarter. American Century Companies Inc. now owns 154,168 shares of the financial services provider's stock worth $71,709,000 after purchasing an additional 12,490 shares during the period. Virtu Financial LLC acquired a new position in Kinsale Capital Group in the 4th quarter worth approximately $1,221,000. Finally, Quantbot Technologies LP purchased a new position in Kinsale Capital Group during the 4th quarter worth approximately $1,847,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Trading Up 0.7 %

Shares of Kinsale Capital Group stock traded up $3.26 on Tuesday, reaching $443.71. The company had a trading volume of 69,604 shares, compared to its average volume of 204,304. The firm's 50 day moving average price is $457.20 and its two-hundred day moving average price is $461.90. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a 52-week low of $355.12 and a 52-week high of $531.79. The firm has a market cap of $10.33 billion, a PE ratio of 24.96, a PEG ratio of 1.66 and a beta of 1.16.

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Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data 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. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The firm had revenue of $412.12 million for the quarter, compared to the consensus estimate of $418.32 million. Sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Analyst Ratings Changes

KNSL has been the topic of several analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Truist Financial raised their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Royal Bank of Canada reissued a "sector perform" rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price objective on 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. Finally, Morgan Stanley cut 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 report on Friday, February 14th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.