State of New Jersey Common Pension Fund D Has $3.87 Million Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

State of New Jersey Common Pension Fund D boosted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,322 shares of the financial services provider’s stock after acquiring an additional 77 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Kinsale Capital Group were worth $3,874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KNSL. Benjamin Edwards Inc. boosted its stake in Kinsale Capital Group by 9.9% in the second quarter. Benjamin Edwards Inc. now owns 267 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 24 shares in the last quarter. Leibman Financial Services Inc. raised its holdings in shares of Kinsale Capital Group by 0.5% in the third quarter. Leibman Financial Services Inc. now owns 4,562 shares of the financial services provider’s stock valued at $2,124,000 after buying an additional 24 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Kinsale Capital Group by 9.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 331 shares of the financial services provider’s stock worth $128,000 after buying an additional 28 shares in the last quarter. CWM LLC grew its holdings in Kinsale Capital Group by 8.8% during the 3rd quarter. CWM LLC now owns 406 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 33 shares during the last quarter. Finally, Hancock Whitney Corp increased its position in Kinsale Capital Group by 3.1% in the 1st quarter. Hancock Whitney Corp now owns 1,245 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on KNSL. Jefferies Financial Group increased their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lowered their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a research note on Monday, October 28th. Truist Financial lowered their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $455.88.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $471.83 on Wednesday. The firm’s 50 day simple moving average is $458.10 and its 200 day simple moving average is $426.54. Kinsale Capital Group, Inc. has a fifty-two week low of $325.01 and a fifty-two week high of $548.47. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 1.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same period last year, the business posted $3.31 earnings per share. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $0.15 dividend. The ex-dividend date was Thursday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. Kinsale Capital Group’s payout ratio is 3.42%.

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.