Thoroughbred Financial Services LLC Takes $262,000 Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Thoroughbred Financial Services LLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 565 shares of the financial services provider's stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in Kinsale Capital Group in the 4th quarter valued at $89,200,000. Alliancebernstein L.P. boosted its position in shares of Kinsale Capital Group by 486.3% during the 4th quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock valued at $99,559,000 after acquiring an additional 177,540 shares in the last quarter. Premier Fund Managers Ltd increased its stake in Kinsale Capital Group by 20,286.0% in the fourth quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider's stock valued at $48,813,000 after acquiring an additional 104,270 shares during the period. Handelsbanken Fonder AB raised its position in Kinsale Capital Group by 1,119.0% in the fourth quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider's stock worth $32,885,000 after purchasing an additional 64,900 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Kinsale Capital Group during the fourth quarter worth about $22,933,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Price Performance

NYSE:KNSL traded up $3.56 during mid-day trading on Friday, reaching $481.79. 107,412 shares of the company were exchanged, compared to its average volume of 175,457. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market cap of $11.21 billion, a PE ratio of 27.08, a PEG ratio of 1.66 and a beta of 1.16. Kinsale Capital Group, Inc. has a 12 month low of $355.12 and a 12 month high of $531.79. The company has a fifty day moving average of $459.17 and a 200 day moving average of $462.17.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $418.32 million. On average, research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a $0.17 dividend. 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 0.14%. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group's dividend payout ratio (DPR) is 3.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KNSL shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Morgan Stanley lowered their price target on Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Truist Financial lifted their price objective on Kinsale Capital Group from $480.00 to $525.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. cut 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 report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $468.56.

Kinsale Capital Group 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.