Canal Capital Management LLC Has $3.64 Million Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Canal Capital Management LLC increased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,818 shares of the financial services provider’s stock after purchasing an additional 745 shares during the quarter. Canal Capital Management LLC’s holdings in Kinsale Capital Group were worth $3,637,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its stake in shares of Kinsale Capital Group by 29.4% in the 4th quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider’s stock valued at $9,310,000 after purchasing an additional 4,644 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Kinsale Capital Group by 11.8% in the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider’s stock valued at $18,299,000 after acquiring an additional 4,146 shares in the last quarter. Empowered Funds LLC acquired a new stake in Kinsale Capital Group in the 4th quarter worth approximately $1,071,000. Charles Schwab Investment Management Inc. boosted its position in Kinsale Capital Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider’s stock worth $70,907,000 after purchasing an additional 3,970 shares during the period. Finally, Argent Capital Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $1,736,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $487.01 on Monday. 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 cap of $11.34 billion, a P/E ratio of 27.38, a P/E/G ratio of 1.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The business’s fifty day moving average is $459.06 and its two-hundred day moving average is $462.75.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Analysts Set New Price Targets

KNSL has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Morgan Stanley lowered their target price on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. JPMorgan Chase & Co. reduced 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 report on Friday, January 3rd. Finally, Truist Financial upped their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus target price of $468.56.

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.