Envestnet Asset Management Inc. Boosts Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Envestnet Asset Management Inc. lifted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 118,951 shares of the financial services provider’s stock after purchasing an additional 1,142 shares during the period. Envestnet Asset Management Inc. owned about 0.51% of Kinsale Capital Group worth $45,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cim LLC purchased a new stake in Kinsale Capital Group during the fourth quarter worth $1,934,000. Axiom Investors LLC DE raised its position in shares of Kinsale Capital Group by 116.3% in the 4th quarter. Axiom Investors LLC DE now owns 44,135 shares of the financial services provider’s stock worth $14,781,000 after acquiring an additional 23,728 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Kinsale Capital Group by 113.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock worth $2,148,000 after purchasing an additional 2,172 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Kinsale Capital Group by 129.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 44,232 shares of the financial services provider’s stock valued at $14,814,000 after purchasing an additional 24,992 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Kinsale Capital Group by 249.2% in the second quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after purchasing an additional 3,818 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on KNSL shares. JPMorgan Chase & Co. increased their price target on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Royal Bank of Canada raised their target price on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Oppenheimer began coverage on Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating on the stock. Truist Financial raised their price objective on Kinsale Capital Group from $440.00 to $485.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Wolfe Research lowered Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research report on Monday. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $443.38.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $453.81 on Friday. The business has a fifty day moving average of $450.89 and a 200 day moving average of $436.01. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.23. The firm had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $410.20 million. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the business posted $2.88 earnings per share. As a group, research analysts expect that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.99%.

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.