Franklin Resources Inc. Buys 15,865 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Franklin Resources Inc. raised its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 16.3% during the 4th quarter, Holdings Channel reports. The fund owned 112,985 shares of the financial services provider’s stock after acquiring an additional 15,865 shares during the period. Franklin Resources Inc.’s holdings in Kinsale Capital Group were worth $52,553,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock worth $246,810,000 after purchasing an additional 29,686 shares during the period. Empowered Funds LLC bought a new position in Kinsale Capital Group during the 4th quarter worth $1,071,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 buying an additional 3,970 shares in the last quarter. Argent Capital Management LLC acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth $1,736,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $46,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $459.89 on Friday. The stock has a fifty day moving average of $457.25 and a 200-day moving average of $461.88. The stock has a market capitalization of $10.70 billion, a P/E ratio of 25.85, a price-to-earnings-growth 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. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last issued its 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. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The firm had revenue of $412.12 million during the quarter, compared to the consensus estimate of $418.32 million. On average, sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 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.