39,392 Shares in Kinsale Capital Group, Inc. (NYSE:KNSL) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 39,392 shares of the financial services provider's stock, valued at approximately $18,323,000. Raymond James Financial Inc. owned approximately 0.17% of Kinsale Capital Group as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several research firms have weighed in on KNSL. JPMorgan Chase & Co. cut 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 reiterated a "market perform" rating on shares of Kinsale Capital Group 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. Truist Financial boosted their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Finally, Morgan Stanley dropped their price objective on 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. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $468.56.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL traded down $80.31 during midday trading on Friday, reaching $421.67. 327,197 shares of the company's stock were exchanged, compared to its average volume of 175,430. The firm has a market capitalization of $9.82 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16. The company's 50 day simple moving average is $460.89 and its two-hundred day simple moving average is $463.37. Kinsale Capital Group, Inc. has a 12 month low of $355.12 and a 12 month high of $531.79. 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 (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating analysts' consensus estimates of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The company had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. Equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.17 per share. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group's dividend payout ratio is currently 3.82%.

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.