Legal & General Group Plc Reduces Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Legal & General Group Plc reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,361 shares of the financial services provider's stock after selling 2,405 shares during the period. Legal & General Group Plc owned 0.15% of Kinsale Capital Group worth $15,982,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in shares of Kinsale Capital Group by 29.4% during the 4th quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock valued at $9,310,000 after buying an additional 4,644 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Kinsale Capital Group by 11.8% during the fourth quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider's stock worth $18,299,000 after acquiring an additional 4,146 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth $1,071,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kinsale Capital Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider's stock worth $70,907,000 after acquiring an additional 3,970 shares during the period. Finally, Argent Capital Management LLC bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $1,736,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KNSL. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. JMP Securities reissued a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Morgan Stanley decreased their target price on Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, Truist Financial boosted their price objective on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Eight research 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.com, the company currently has an average rating of "Hold" and a consensus target price of $468.56.

Kinsale Capital Group Price Performance

Shares of KNSL stock traded up $3.36 during trading hours on Friday, hitting $487.01. 88,133 shares of the company's stock were exchanged, compared to its average volume of 175,069. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $531.79. The company has a market capitalization of $11.34 billion, a PE ratio of 27.38, a PEG ratio of 1.66 and a beta of 1.16. The business's 50 day simple moving average is $459.06 and its 200-day simple moving average is $462.94. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping analysts' consensus estimates of $4.23 by $0.39. The company had revenue of $412.12 million for the quarter, compared to analysts' expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. On average, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.17 dividend. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.14%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.82%.

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.