Carnegie Capital Asset Management LLC Invests $8 Million in Kinsale Capital Group, Inc. (NYSE:KNSL)

Carnegie Capital Asset Management LLC purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 23,892 shares of the financial services provider's stock, valued at approximately $8,002,000. Carnegie Capital Asset Management LLC owned about 0.10% of Kinsale Capital Group as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. bought a new position in Kinsale Capital Group in the fourth quarter worth $873,000. Louisiana State Employees Retirement System bought a new position in Kinsale Capital Group in the fourth quarter worth $2,076,000. Valeo Financial Advisors LLC lifted its position in Kinsale Capital Group by 38.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 856 shares of the financial services provider's stock worth $287,000 after purchasing an additional 238 shares during the period. Cerity Partners LLC acquired a new position in Kinsale Capital Group during the fourth quarter worth $404,000. Finally, Harbor Investment Advisory LLC raised its stake in Kinsale Capital Group by 17.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 231 shares of the financial services provider's stock worth $77,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KNSL. JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $375.00 to $420.00 and gave the company a "neutral" rating in a research note on Monday, February 26th. Truist Financial raised their target price on Kinsale Capital Group from $450.00 to $600.00 and gave the stock a "buy" rating in a report on Tuesday, February 20th. BMO Capital Markets cut Kinsale Capital Group from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $434.00 to $544.00 in a report on Wednesday, February 28th. Finally, Royal Bank of Canada boosted their price objective on Kinsale Capital Group from $410.00 to $555.00 and gave the company an "outperform" rating in a research report on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $510.00.

Kinsale Capital Group Price Performance

NYSE:KNSL traded down $3.69 during trading hours on Monday, hitting $447.27. The company's stock had a trading volume of 113,954 shares, compared to its average volume of 184,211. The stock has a fifty day simple moving average of $486.84 and a 200-day simple moving average of $414.02. The company has a market capitalization of $10.37 billion, a P/E ratio of 33.86 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.12 and a quick ratio of 0.12. Kinsale Capital Group, Inc. has a twelve month low of $297.33 and a twelve month high of $548.47.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.43. The company had revenue of $351.17 million during the quarter, compared to the consensus estimate of $367.98 million. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. The firm's revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company earned $2.60 earnings per share. On average, analysts anticipate that Kinsale Capital Group, Inc. will post 15.26 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.60 annualized dividend and a yield of 0.13%. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.14. Kinsale Capital Group's payout ratio is currently 4.54%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the company's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at approximately $159,199,255.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the transaction, the director now owns 887 shares of the company's stock, valued at approximately $464,867.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the company's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now directly owns 303,972 shares of the company's stock, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company's stock.

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.