Congress Wealth Management LLC DE Increases Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Congress Wealth Management LLC DE grew its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,565 shares of the financial services provider’s stock after purchasing an additional 256 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Kinsale Capital Group were worth $4,449,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Emerald Advisers LLC raised its position in Kinsale Capital Group by 11.8% in the 4th quarter. Emerald Advisers LLC now owns 1,706 shares of the financial services provider’s stock valued at $794,000 after purchasing an additional 180 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Kinsale Capital Group by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 2,113,683 shares of the financial services provider’s stock worth $983,137,000 after buying an additional 29,553 shares during the period. LPL Financial LLC boosted its stake in shares of Kinsale Capital Group by 29.4% during the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider’s stock worth $9,310,000 after buying an additional 4,644 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth about $2,093,000. Finally, Sei Investments Co. raised its stake in Kinsale Capital Group by 4.1% during the 4th quarter. Sei Investments Co. now owns 91,042 shares of the financial services provider’s stock valued at $42,351,000 after acquiring an additional 3,620 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KNSL has been the topic of several analyst reports. Truist Financial lifted their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Morgan Stanley cut their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a report on Tuesday, February 18th. 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, Kinsale Capital Group presently has an average rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $485.35 on Wednesday. The business has a 50 day moving average price of $449.57 and a 200 day moving average price of $460.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $11.30 billion, a P/E ratio of 27.28, a PEG ratio of 1.66 and a beta of 1.25. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $536.84.

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

Kinsale Capital Group Increases Dividend

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