Taika Capital LP Invests $358,000 in Kinsale Capital Group, Inc. (NYSE:KNSL)

Taika Capital LP purchased a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 770 shares of the financial services provider’s stock, valued at approximately $358,000.

A number of other large investors have also recently bought and sold shares of KNSL. Handelsbanken Fonder AB boosted 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 valued at $32,885,000 after buying an additional 64,900 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Kinsale Capital Group by 65.3% in the third quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock valued at $69,471,000 after buying an additional 58,971 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $22,933,000. DAVENPORT & Co LLC boosted its position 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 valued at $238,193,000 after buying an additional 44,931 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Kinsale Capital Group in the third quarter valued at approximately $18,599,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insider Activity at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group Trading Up 2.4 %

Shares of KNSL stock opened at $445.94 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 1.66 and a beta of 1.25. The stock has a 50 day simple moving average of $443.99 and a 200-day simple moving average of $462.37. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $536.84.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results 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 the consensus estimate of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be paid a $0.17 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio is currently 3.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial upped their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. BMO Capital Markets upped their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley lowered their price objective 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. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and a consensus target price of $468.56.

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.