Kinsale Capital Group, Inc. (NYSE:KNSL) Stake Boosted by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lifted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 71.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,521 shares of the financial services provider’s stock after purchasing an additional 635 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Kinsale Capital Group were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. First Trust Direct Indexing L.P. bought a new stake in Kinsale Capital Group in the 1st quarter valued at about $245,000. Norden Group LLC boosted its position in shares of Kinsale Capital Group by 61.1% during the first quarter. Norden Group LLC now owns 1,018 shares of the financial services provider’s stock worth $534,000 after buying an additional 386 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Kinsale Capital Group in the 1st quarter worth approximately $5,268,000. BNP Paribas Financial Markets increased its position in Kinsale Capital Group by 763.7% in the 1st quarter. BNP Paribas Financial Markets now owns 14,338 shares of the financial services provider’s stock valued at $7,524,000 after acquiring an additional 12,678 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Kinsale Capital Group by 113.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock valued at $2,148,000 after acquiring an additional 2,172 shares during the period. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $428.88 on Wednesday. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. The business’s fifty day moving average is $460.44 and its two-hundred day moving average is $426.58. The stock has a market capitalization of $9.99 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.83 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same period in the previous year, the firm earned $3.31 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, research analysts forecast that Kinsale Capital Group, Inc. will post 15.48 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group’s payout ratio is 3.42%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KNSL. Jefferies Financial Group increased their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research report on Monday, October 28th. Royal Bank of Canada dropped their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Truist Financial dropped their target price on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $455.88.

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.