Fifth Third Wealth Advisors LLC Acquires 37 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Fifth Third Wealth Advisors LLC raised its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 5.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 763 shares of the financial services provider’s stock after purchasing an additional 37 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Kinsale Capital Group were worth $355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC purchased a new position in shares of Kinsale Capital Group during the 1st quarter valued at $301,000. CANADA LIFE ASSURANCE Co increased its holdings in Kinsale Capital Group by 18.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,836 shares of the financial services provider’s stock worth $7,776,000 after acquiring an additional 2,302 shares during the period. Quadrature Capital Ltd lifted its stake in Kinsale Capital Group by 142.9% in the 1st quarter. Quadrature Capital Ltd now owns 17,838 shares of the financial services provider’s stock worth $9,364,000 after purchasing an additional 10,495 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Kinsale Capital Group by 171.6% in the 1st quarter. Hood River Capital Management LLC now owns 35,470 shares of the financial services provider’s stock valued at $18,613,000 after purchasing an additional 22,410 shares during the period. Finally, Ascent Group LLC grew its position in shares of Kinsale Capital Group by 7.9% during the 1st quarter. Ascent Group LLC now owns 4,029 shares of the financial services provider’s stock valued at $2,114,000 after purchasing an additional 294 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KNSL shares. Jefferies Financial Group lifted their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Truist Financial decreased their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Royal Bank of Canada dropped their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. BMO Capital Markets increased their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $456.88.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $491.58 on Friday. The company’s fifty day moving average is $458.87 and its 200 day moving average is $431.02. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47. The stock has a market cap of $11.45 billion, a PE ratio of 28.03, a PEG ratio of 2.02 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The company had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the prior year, the business posted $3.31 EPS. Kinsale Capital Group’s quarterly revenue was up 33.0% compared to the same quarter last year. Research analysts anticipate that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.12%. Kinsale Capital Group’s dividend payout ratio is currently 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.