Kinsale Capital Group, Inc. (NYSE:KNSL) Stake Reduced by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,088 shares of the financial services provider’s stock after selling 10,987 shares during the period. Loomis Sayles & Co. L P owned approximately 0.43% of Kinsale Capital Group worth $46,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in KNSL. Handelsbanken Fonder AB raised its position in shares of Kinsale Capital Group by 1,119.0% during 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 during the period. Proficio Capital Partners LLC acquired a new stake in Kinsale Capital Group during the 4th quarter worth about $22,933,000. DAVENPORT & Co LLC lifted its stake in Kinsale Capital Group by 9.6% during the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after buying an additional 44,931 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Kinsale Capital Group in the third quarter worth about $18,599,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth approximately $18,323,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $486.61 on Friday. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. The company’s fifty day moving average is $451.47 and its 200-day moving average is $460.87. 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 12 month low of $355.12 and a 12 month high of $534.67.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data 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. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The business had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. Equities analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a $0.17 dividend. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KNSL shares. Royal Bank of Canada reaffirmed 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. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Truist Financial raised their price objective on 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 target price on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.