Novem Group Makes New $778,000 Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

Novem Group bought a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,672 shares of the financial services provider's stock, valued at approximately $778,000.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC grew its position in Kinsale Capital Group by 34.4% in the 3rd quarter. Barclays PLC now owns 11,772 shares of the financial services provider's stock worth $5,480,000 after purchasing an additional 3,014 shares during the last quarter. HB Wealth Management LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter worth approximately $247,000. Diversify Wealth Management LLC increased its position in Kinsale Capital Group by 49.3% in the 4th quarter. Diversify Wealth Management LLC now owns 1,048 shares of the financial services provider's stock worth $487,000 after purchasing an additional 346 shares during the last quarter. UMB Bank n.a. increased its position in Kinsale Capital Group by 67.2% during the fourth quarter. UMB Bank n.a. now owns 102 shares of the financial services provider's stock worth $47,000 after buying an additional 41 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in Kinsale Capital Group during the fourth quarter valued at about $936,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Truist Financial dropped their price target on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $484.57.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL traded up $7.35 during trading on Tuesday, reaching $470.96. 32,635 shares of the company's stock traded hands, compared to its average volume of 170,591. The company has a 50-day simple moving average of $466.03 and a 200-day simple moving average of $463.28. Kinsale Capital Group, Inc. has a fifty-two week low of $366.92 and a fifty-two week high of $531.79. The firm has a market cap of $10.98 billion, a PE ratio of 26.47, a P/E/G ratio of 1.66 and a beta of 1.29. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, topping 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 firm had revenue of $423.40 million during the quarter, compared to analysts' expectations of $425.73 million. During the same quarter in the previous year, the business earned $3.50 earnings per share. The firm's revenue was up 7.9% compared to the same quarter last year. As a group, analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.17 dividend. This represents a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, May 29th. Kinsale Capital Group's dividend payout ratio is currently 3.91%.

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.