New Age Alpha Advisors LLC Purchases New Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

New Age Alpha Advisors LLC acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,881 shares of the financial services provider’s stock, valued at approximately $2,270,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Kinsale Capital Group in the fourth quarter worth $89,200,000. Handelsbanken Fonder AB increased its position in shares of Kinsale Capital Group by 1,119.0% in the 4th 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 last quarter. Proficio Capital Partners LLC bought a new position in shares of Kinsale Capital Group during the fourth quarter worth about $22,933,000. DAVENPORT & Co LLC grew its stake in Kinsale Capital Group by 9.6% in the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after purchasing an additional 44,931 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Kinsale Capital Group in the third quarter valued at about $18,599,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KNSL. JPMorgan Chase & Co. reduced their target price on 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 Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Morgan Stanley dropped their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 target price on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $482.17 on Friday. The company has a 50-day moving average price of $452.38 and a two-hundred day moving average price of $460.96. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $531.79. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last issued 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 during the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. Analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were paid a dividend of $0.17 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group’s payout ratio is currently 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.