Norges Bank Purchases Shares of 191,774 Kinsale Capital Group, Inc. (NYSE:KNSL)

Norges Bank purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 191,774 shares of the financial services provider's stock, valued at approximately $89,200,000. Norges Bank owned approximately 0.82% of Kinsale Capital Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Kinsale Capital Group in the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $31,000. Larson Financial Group LLC lifted its stake in shares of Kinsale Capital Group by 7,400.0% in 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 lifted its stake in shares of Kinsale Capital Group by 450.0% in 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 period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Kinsale Capital Group in the 4th quarter worth $46,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Stock Down 4.0 %

KNSL traded down $18.55 during trading on Monday, hitting $440.56. The company had a trading volume of 353,690 shares, compared to its average volume of 175,125. The company has a market capitalization of $10.25 billion, a PE ratio of 24.76, a PEG ratio of 1.66 and a beta of 1.16. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Kinsale Capital Group, Inc. has a one year low of $355.12 and a one year high of $531.79. The firm's 50-day moving average price is $457.20 and its 200 day moving average price is $461.90.

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

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders 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 dividend on an annualized basis and a yield of 0.15%. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's dividend payout ratio is 3.82%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KNSL. Royal Bank of Canada reissued a "sector perform" rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Morgan Stanley reduced their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, Truist Financial boosted their price target 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. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $468.56.

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.