Summitry LLC Increases Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Summitry LLC boosted its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 27.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 829 shares of the financial services provider’s stock after acquiring an additional 180 shares during the period. Summitry LLC’s holdings in Kinsale Capital Group were worth $386,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KNSL. Vanguard Group Inc. raised its position in shares of Kinsale Capital Group by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 2,113,683 shares of the financial services provider’s stock valued at $983,137,000 after purchasing an additional 29,553 shares during the period. State Street Corp raised its holdings in Kinsale Capital Group by 1.3% during the 3rd quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock valued at $320,957,000 after acquiring an additional 8,954 shares during the period. Geode Capital Management LLC lifted its position in shares of Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock worth $246,810,000 after acquiring an additional 29,686 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of 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 acquiring an additional 44,931 shares during the period. Finally, DF Dent & Co. Inc. grew its position in shares of Kinsale Capital Group by 3.0% in the third quarter. DF Dent & Co. Inc. now owns 226,614 shares of the financial services provider’s stock valued at $105,505,000 after purchasing an additional 6,679 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on KNSL. Morgan Stanley cut their target price on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. JPMorgan Chase & Co. decreased their target price 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Finally, Truist Financial upped their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $468.56.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $485.35 on Wednesday. Kinsale Capital Group, Inc. has a 52-week low of $355.12 and a 52-week high of $536.84. The company has a fifty day moving average of $449.57 and a 200-day moving average of $460.55. The company has a market capitalization of $11.30 billion, a P/E ratio of 27.28, 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 quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.39. The firm 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%. As a group, equities research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.17 dividend. The ex-dividend date was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.14%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio is currently 3.82%.

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.