Emerald Advisers LLC Boosts Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Emerald Advisers LLC lifted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 11.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,706 shares of the financial services provider’s stock after purchasing an additional 180 shares during the quarter. Emerald Advisers LLC’s holdings in Kinsale Capital Group were worth $794,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of KNSL. Handelsbanken Fonder AB boosted its position in Kinsale Capital Group by 1,119.0% during the fourth quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock worth $32,885,000 after purchasing an additional 64,900 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Kinsale Capital Group by 65.3% during the third quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock worth $69,471,000 after purchasing an additional 58,971 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Kinsale Capital Group during the fourth quarter worth $22,933,000. DAVENPORT & Co LLC boosted its position in Kinsale Capital Group by 9.6% during the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after purchasing an additional 44,931 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Kinsale Capital Group during the third quarter worth $18,599,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KNSL. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Morgan Stanley cut their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price target on 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 boosted their price target on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus target price of $468.56.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $471.37 on Monday. The firm has a market capitalization of $10.97 billion, a P/E ratio of 26.50, a PEG ratio of 1.66 and a beta of 1.25. The stock has a fifty day moving average price of $447.17 and a 200 day moving average price of $460.26. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $536.84. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping the consensus estimate of $4.23 by $0.39. The company had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is currently 3.82%.

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.