KLP Kapitalforvaltning AS Acquires New Shares in Kinsale Capital Group, Inc. (NYSE:KNSL)

KLP Kapitalforvaltning AS bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,500 shares of the financial services provider’s stock, valued at approximately $2,093,000.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of 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 valued at $320,957,000 after buying an additional 8,954 shares during the period. Geode Capital Management LLC grew its holdings in Kinsale Capital Group by 5.9% during the 3rd 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 increased its position in Kinsale Capital Group by 9.6% in the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after acquiring an additional 44,931 shares during the period. DF Dent & Co. Inc. raised its stake in shares of Kinsale Capital Group by 3.0% during 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 acquiring an additional 6,679 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Kinsale Capital Group by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 183,345 shares of the financial services provider’s stock worth $85,279,000 after purchasing an additional 5,213 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KNSL. Truist Financial raised their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Morgan Stanley dropped their price target 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, JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $486.61 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $534.67. The firm has a 50 day moving average of $451.47 and a 200-day moving average of $460.87. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The business had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. On average, equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.14%. This is a positive change 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 payout ratio is presently 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.