Pinebridge Investments L.P. Boosts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Pinebridge Investments L.P. increased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 42.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,915 shares of the financial services provider's stock after acquiring an additional 1,769 shares during the period. Pinebridge Investments L.P.'s holdings in Kinsale Capital Group were worth $2,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC raised its position in Kinsale Capital Group by 34.4% during the third quarter. Barclays PLC now owns 11,772 shares of the financial services provider's stock valued at $5,480,000 after purchasing an additional 3,014 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Kinsale Capital Group during the 3rd quarter valued at about $398,000. Franklin Resources Inc. grew its holdings in shares of Kinsale Capital Group by 14.3% during the 3rd quarter. Franklin Resources Inc. now owns 97,120 shares of the financial services provider's stock worth $45,869,000 after acquiring an additional 12,125 shares during the period. GAMMA Investing LLC grew its holdings in shares of Kinsale Capital Group by 39.7% during the 4th quarter. GAMMA Investing LLC now owns 521 shares of the financial services provider's stock worth $242,000 after acquiring an additional 148 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $265,000. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Performance

Shares of KNSL stock traded down $7.33 during trading hours on Thursday, reaching $427.94. 165,631 shares of the company traded hands, compared to its average volume of 173,281. Kinsale Capital Group, Inc. has a 12-month low of $364.46 and a 12-month high of $531.79. 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 company has a market cap of $9.96 billion, a P/E ratio of 24.05, a P/E/G ratio of 1.66 and a beta of 1.16. The firm has a 50-day moving average price of $460.09 and a 200 day moving average price of $462.30.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $425.73 million. During the same period in the previous year, the firm earned $3.50 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.17 per share. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group's payout ratio is presently 3.91%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KNSL shares. Truist Financial reduced their target price on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a report on Monday. Morgan Stanley dropped their price target on Kinsale Capital Group from $515.00 to $490.00 and set an "overweight" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a research report on Monday. JMP Securities reissued a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Finally, Royal Bank of Canada reissued 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.