Marshall Wace LLP Cuts Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Marshall Wace LLP reduced its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,678 shares of the financial services provider's stock after selling 1,299 shares during the quarter. Marshall Wace LLP owned approximately 0.13% of Kinsale Capital Group worth $13,804,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KNSL. Norges Bank purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at $89,200,000. Alliancebernstein L.P. increased its position in shares of Kinsale Capital Group by 486.3% during the fourth quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock worth $99,559,000 after purchasing an additional 177,540 shares in the last quarter. Premier Fund Managers Ltd boosted its position in shares of Kinsale Capital Group by 20,286.0% in the 4th quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider's stock worth $48,813,000 after purchasing an additional 104,270 shares in the last quarter. Handelsbanken Fonder AB increased its position in Kinsale Capital Group by 1,119.0% during the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider's stock valued at $32,885,000 after buying an additional 64,900 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Kinsale Capital Group in the fourth quarter valued at about $22,933,000. 85.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on KNSL. Truist Financial upped their price objective on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Morgan Stanley dropped their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. JMP Securities reissued a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $468.56.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded down $81.84 during trading hours on Friday, reaching $420.13. The company had a trading volume of 950,784 shares, compared to its average volume of 177,854. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $531.79. The business's 50 day moving average price is $460.47 and its 200-day moving average price is $463.07. The firm has a market cap of $9.78 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.

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 (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.56. The firm had revenue of $423.40 million during the quarter, compared to analysts' expectations of $425.73 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. Research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, February 27th. 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%. Kinsale Capital Group's dividend payout ratio (DPR) is 3.82%.

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.