Prospera Financial Services Inc Purchases New Stake in Kinsale Capital Group, Inc. $KNSL

Prospera Financial Services Inc acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,475 shares of the financial services provider’s stock, valued at approximately $1,198,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its position in shares of Kinsale Capital Group by 13.6% in the 1st quarter. Ballentine Partners LLC now owns 651 shares of the financial services provider’s stock worth $317,000 after buying an additional 78 shares during the last quarter. New York State Common Retirement Fund raised its stake in Kinsale Capital Group by 8.8% during the first quarter. New York State Common Retirement Fund now owns 17,759 shares of the financial services provider’s stock worth $8,643,000 after acquiring an additional 1,435 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Kinsale Capital Group by 39.4% in the first quarter. SBI Securities Co. Ltd. now owns 138 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 39 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in Kinsale Capital Group by 12.3% in the first quarter. Wealthfront Advisers LLC now owns 520 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 57 shares during the period. Finally, PAX Financial Group LLC boosted its stake in Kinsale Capital Group by 12.1% in the first quarter. PAX Financial Group LLC now owns 1,190 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 128 shares during the period. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

KNSL opened at $397.00 on Thursday. The business has a 50 day moving average price of $432.21 and a two-hundred day moving average price of $452.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.46 and a beta of 1.09. Kinsale Capital Group, Inc. has a 1-year low of $382.89 and a 1-year high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.The company had revenue of $497.51 million for the quarter, compared to analysts’ expectations of $446.00 million. During the same period last year, the firm earned $4.20 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Friday, November 28th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, November 28th. Kinsale Capital Group’s payout ratio is presently 3.34%.

Analyst Ratings Changes

A number of analysts have recently weighed in on KNSL shares. Weiss Ratings cut Kinsale Capital Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. TD Cowen reduced their price objective on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. JPMorgan Chase & Co. dropped their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Truist Financial raised their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, Cantor Fitzgerald raised shares of Kinsale Capital Group to a “hold” rating in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $495.44.

Kinsale Capital Group Company 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.