Verdence Capital Advisors LLC Purchases New Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Verdence Capital Advisors LLC acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,156 shares of the financial services provider’s stock, valued at approximately $387,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. grew its position in shares of Kinsale Capital Group by 4,798.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock valued at $101,692,000 after buying an additional 240,668 shares during the last quarter. DAVENPORT & Co LLC boosted its position in Kinsale Capital Group by 154.5% during the 4th quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock valued at $109,362,000 after purchasing an additional 198,129 shares during the period. International Assets Investment Management LLC grew its stake in Kinsale Capital Group by 33,266.0% during the 4th quarter. International Assets Investment Management LLC now owns 178,842 shares of the financial services provider’s stock worth $59,896,000 after buying an additional 178,306 shares during the last quarter. Invesco Ltd. grew its stake in Kinsale Capital Group by 15.4% during the 3rd quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock worth $287,435,000 after buying an additional 92,496 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Kinsale Capital Group by 32.6% in the third quarter. Envestnet Asset Management Inc. now owns 109,822 shares of the financial services provider’s stock worth $45,481,000 after buying an additional 27,015 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Insider Buying and Selling at Kinsale Capital Group

In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now directly owns 887 shares of the company’s stock, valued at approximately $464,867.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael P. Kehoe sold 4,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the transaction, the director now directly owns 887 shares in the company, valued at $464,867.83. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

KNSL has been the subject of several recent research reports. Truist Financial upped their price target on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. BMO Capital Markets cut Kinsale Capital Group from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Finally, Royal Bank of Canada increased their price objective on Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $510.00.

Kinsale Capital Group Trading Up 2.6 %

Kinsale Capital Group stock opened at $463.49 on Tuesday. Kinsale Capital Group, Inc. has a 12-month low of $297.33 and a 12-month high of $548.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $10.75 billion, a PE ratio of 35.09 and a beta of 0.89. The firm has a 50 day simple moving average of $492.26 and a 200-day simple moving average of $415.54.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.43. The firm had revenue of $351.17 million during the quarter, compared to the consensus estimate of $367.98 million. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.60 EPS. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 15.26 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a dividend of $0.15 per share. The ex-dividend date was Monday, February 26th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. Kinsale Capital Group’s payout ratio is presently 4.54%.

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.