Axiom Investors LLC DE Sells 7,614 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Axiom Investors LLC DE cut its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 38.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,416 shares of the financial services provider’s stock after selling 7,614 shares during the period. Axiom Investors LLC DE’s holdings in Kinsale Capital Group were worth $5,775,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KNSL. Vanguard Group Inc. increased its holdings in shares of Kinsale Capital Group by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 2,113,683 shares of the financial services provider’s stock worth $983,137,000 after buying an additional 29,553 shares during the last quarter. State Street Corp grew its position in Kinsale Capital Group by 1.3% in the third quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock worth $320,957,000 after acquiring an additional 8,954 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 during the last quarter. DAVENPORT & Co LLC raised its position in Kinsale Capital Group by 9.6% during the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after purchasing an additional 44,931 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Kinsale Capital Group by 6.0% in the 4th quarter. JPMorgan Chase & Co. now owns 329,595 shares of the financial services provider’s stock valued at $153,305,000 after purchasing an additional 18,661 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 0.9 %

Shares of NYSE KNSL opened at $486.72 on Tuesday. Kinsale Capital Group, Inc. has a 52-week low of $355.12 and a 52-week high of $531.79. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.66 and a beta of 1.25. The stock has a 50 day moving average price of $453.37 and a 200 day moving average price of $461.21. 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 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 analysts’ expectations of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price target on shares of 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. Morgan Stanley reduced 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 research report on Friday, February 14th. Finally, Truist Financial boosted 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. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group currently has an average rating of “Hold” and a consensus price target 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.