KLP Kapitalforvaltning AS Takes Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

KLP Kapitalforvaltning AS bought a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,500 shares of the financial services provider’s stock, valued at approximately $2,093,000.

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. increased its position in Kinsale Capital Group by 4.1% during the fourth quarter. Sei Investments Co. now owns 91,042 shares of the financial services provider’s stock worth $42,351,000 after buying an additional 3,620 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Kinsale Capital Group by 8.8% during the 4th quarter. American Century Companies Inc. now owns 154,168 shares of the financial services provider’s stock worth $71,709,000 after acquiring an additional 12,490 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $1,221,000. Quantbot Technologies LP bought a new stake in Kinsale Capital Group in the 4th quarter valued at $1,847,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Kinsale Capital Group by 11.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 21 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KNSL has been the topic of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Truist Financial raised their price objective 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. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Finally, Morgan Stanley dropped their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $468.56.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $486.61 on Friday. The business has a fifty day moving average price of $451.47 and a two-hundred day moving average price of $460.87. The stock has a market capitalization of $11.33 billion, a PE ratio of 27.35, a P/E/G ratio of 1.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $534.67.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.39. The business had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. As a group, equities analysts predict 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 declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Thursday, February 27th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio is 3.82%.

Kinsale Capital Group Company 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.