Raymond James Financial Inc. Takes Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Raymond James Financial Inc. bought a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 39,392 shares of the financial services provider's stock, valued at approximately $18,323,000. Raymond James Financial Inc. owned about 0.17% of Kinsale Capital Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ballentine Partners LLC boosted its position in shares of Kinsale Capital Group by 4.6% during the fourth quarter. Ballentine Partners LLC now owns 573 shares of the financial services provider's stock valued at $267,000 after buying an additional 25 shares during the last quarter. Caprock Group LLC grew its position in Kinsale Capital Group by 1.7% in the 4th quarter. Caprock Group LLC now owns 1,653 shares of the financial services provider's stock worth $769,000 after purchasing an additional 28 shares during the period. Fielder Capital Group LLC grew its holdings in shares of Kinsale Capital Group by 5.5% in the fourth quarter. Fielder Capital Group LLC now owns 595 shares of the financial services provider's stock worth $277,000 after acquiring an additional 31 shares during the period. CIBC Asset Management Inc increased its position in Kinsale Capital Group by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 716 shares of the financial services provider's stock valued at $333,000 after acquiring an additional 36 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in Kinsale Capital Group by 5.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 763 shares of the financial services provider's stock valued at $355,000 after acquiring an additional 37 shares during the period. Institutional investors own 85.36% of the company's stock.

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Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock traded up $12.35 during trading on Friday, reaching $471.37. 346,675 shares of the stock traded hands, compared to its average volume of 171,042. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 1.66 and a beta of 1.25. Kinsale Capital Group, Inc. has a 52-week low of $355.12 and a 52-week high of $536.84. The business has a fifty day simple moving average of $446.07 and a two-hundred day simple moving average of $460.60.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) 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 the consensus estimate of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed 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 of this dividend was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.14%. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's dividend payout ratio (DPR) is 3.82%.

Analysts Set New Price Targets

Several research firms have recently commented on KNSL. BMO Capital Markets upped their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a "market perform" rating in a research report on Thursday, November 21st. Morgan Stanley cut their price objective 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. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Truist Financial boosted their price target on Kinsale Capital Group from $480.00 to $525.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price objective on 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. 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, the stock currently has an average rating of "Hold" and an average price target 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.