Nomura Asset Management Co. Ltd. Raises Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Nomura Asset Management Co. Ltd. lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 169.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,563 shares of the financial services provider's stock after buying an additional 984 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Kinsale Capital Group were worth $727,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Kinsale Capital Group by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 2,113,683 shares of the financial services provider's stock valued at $983,137,000 after buying an additional 29,553 shares in the last quarter. State Street Corp increased its stake in shares of Kinsale Capital Group by 1.3% in the 3rd quarter. State Street Corp now owns 689,386 shares of the financial services provider's stock valued at $320,957,000 after purchasing an additional 8,954 shares in the last quarter. Geode Capital Management LLC raised its holdings in Kinsale Capital Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider's stock worth $246,810,000 after purchasing an additional 29,686 shares during the period. DAVENPORT & Co LLC raised its holdings in Kinsale Capital Group by 9.6% in the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider's stock worth $238,193,000 after purchasing an additional 44,931 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Kinsale Capital Group by 6.0% during the fourth quarter. JPMorgan Chase & Co. now owns 329,595 shares of the financial services provider's stock worth $153,305,000 after purchasing an additional 18,661 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts have recently commented on KNSL shares. Truist Financial boosted their price objective on Kinsale Capital Group from $480.00 to $525.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Morgan Stanley cut their price target 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $500.00 price objective on shares of Kinsale Capital Group in a report on Tuesday, February 18th. JMP Securities reissued a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Kinsale Capital Group has an average rating of "Hold" and a consensus target price of $468.56.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL traded down $18.55 during midday trading on Monday, hitting $440.56. The company's stock had a trading volume of 353,690 shares, compared to its average volume of 175,125. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $531.79. The company has a market cap of $10.25 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The business's 50 day simple moving average is $457.20 and its 200 day simple moving average is $461.90.

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

Kinsale Capital Group Increases Dividend

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

Kinsale Capital Group Company 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.