Cary Street Partners Financial LLC Buys Shares of 1,605 Kinsale Capital Group, Inc. (NYSE:KNSL)

Cary Street Partners Financial LLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,605 shares of the financial services provider's stock, valued at approximately $746,000.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Kinsale Capital Group in the fourth quarter worth $89,200,000. Alliancebernstein L.P. raised its position in Kinsale Capital Group by 486.3% in the fourth quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock worth $99,559,000 after acquiring an additional 177,540 shares in the last quarter. Premier Fund Managers Ltd raised its position in Kinsale Capital Group by 20,286.0% in the fourth quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider's stock worth $48,813,000 after acquiring an additional 104,270 shares in the last quarter. Handelsbanken Fonder AB raised its position in Kinsale Capital Group by 1,119.0% in the fourth quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider's stock worth $32,885,000 after acquiring an additional 64,900 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Kinsale Capital Group in the fourth quarter worth $22,933,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock traded up $2.62 during trading on Monday, hitting $456.70. The stock had a trading volume of 114,635 shares, compared to its average volume of 169,884. 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 firm has a market cap of $10.65 billion, a P/E ratio of 25.67, a PEG ratio of 1.66 and a beta of 1.29. The business has a fifty day moving average of $463.50 and a two-hundred day moving average of $461.49. Kinsale Capital Group, Inc. has a fifty-two week low of $366.92 and a fifty-two week high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The business had revenue of $423.40 million during the quarter, compared to analyst estimates of $425.73 million. During the same quarter in the prior year, the firm posted $3.50 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given 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 dividend on an annualized basis and a yield of 0.15%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.91%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on KNSL shares. JPMorgan Chase & Co. dropped their price target on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Truist Financial dropped their price target on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Royal Bank of Canada reiterated a "sector perform" rating and set a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Morgan Stanley dropped their price objective on Kinsale Capital Group from $515.00 to $490.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Kinsale Capital Group has a consensus rating of "Hold" and an average target price of $470.00.

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.