Congress Wealth Management LLC DE Grows Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Congress Wealth Management LLC DE lifted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,565 shares of the financial services provider’s stock after buying an additional 256 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Kinsale Capital Group were worth $4,449,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KNSL. Geode Capital Management LLC raised its holdings in Kinsale Capital Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after acquiring an additional 29,686 shares during the last quarter. Swedbank AB increased its stake in Kinsale Capital Group by 5.0% in the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock valued at $19,582,000 after purchasing an additional 2,010 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Kinsale Capital Group by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,475 shares of the financial services provider’s stock worth $69,126,000 after buying an additional 3,469 shares during the period. Empowered Funds LLC acquired a new stake in Kinsale Capital Group in the 4th quarter worth about $1,071,000. Finally, Argent Capital Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter valued at about $1,736,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 0.5 %

NYSE KNSL opened at $485.35 on Wednesday. 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 fifty-two week low of $355.12 and a fifty-two week high of $536.84. The business has a 50 day moving average price of $449.57 and a two-hundred day moving average price of $460.55. The stock has a market cap of $11.30 billion, a PE ratio of 27.28, a P/E/G ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The business had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. As a group, sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley cut their price objective 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. Truist Financial lifted their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price objective on shares of Kinsale Capital Group in a report on Tuesday, February 18th. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. dropped their price target on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.