Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 112.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,029 shares of the financial services provider's stock after acquiring an additional 3,713 shares during the period. Teacher Retirement System of Texas' holdings in Kinsale Capital Group were worth $3,269,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KNSL. Geode Capital Management LLC raised its holdings in Kinsale Capital Group by 5.9% in the third 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 in the last quarter. Swedbank AB raised its stake in shares of Kinsale Capital Group by 5.0% during the 3rd quarter. Swedbank AB now owns 42,060 shares of the financial services provider's stock worth $19,582,000 after acquiring an additional 2,010 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kinsale Capital Group by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 148,475 shares of the financial services provider's stock worth $69,126,000 after acquiring an additional 3,469 shares in the last quarter. Empowered Funds LLC purchased a new stake in Kinsale Capital Group during the fourth quarter valued at approximately $1,071,000. Finally, Argent Capital Management LLC acquired a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $1,736,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada restated a "sector perform" rating and set a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley dropped their price target 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. Truist Financial raised their price target 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, JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $468.56.

Kinsale Capital Group Trading Down 0.9 %

NYSE:KNSL traded down $4.58 during trading hours on Friday, hitting $482.17. The company had a trading volume of 106,207 shares, compared to its average volume of 175,001. The company has a 50-day moving average of $452.38 and a 200 day moving average of $460.96. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $11.22 billion, a P/E ratio of 27.10, a P/E/G ratio of 1.66 and a beta of 1.25. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $531.79.

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

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Thursday, February 27th. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's dividend payout ratio (DPR) is presently 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.