Empowered Funds LLC Makes New Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

Empowered Funds LLC bought a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,303 shares of the financial services provider’s stock, valued at approximately $1,071,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KNSL. Geode Capital Management LLC lifted its holdings in Kinsale Capital Group by 5.9% in the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after acquiring an additional 29,686 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Kinsale Capital Group by 7,392.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 1,035 shares in the last quarter. Geneva Capital Management LLC lifted its stake in shares of Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after purchasing an additional 5,207 shares during the period. Swedbank AB lifted its stake in shares of Kinsale Capital Group by 5.0% in the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock valued at $19,582,000 after purchasing an additional 2,010 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Kinsale Capital Group by 75.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock worth $62,375,000 after buying an additional 57,460 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. dropped their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Truist Financial decreased their target price on Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday. Finally, Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective on the stock in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $460.78.

Kinsale Capital Group Trading Down 7.7 %

Shares of KNSL stock opened at $449.77 on Tuesday. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.82 and a beta of 1.15. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $459.56 and a 200 day moving average price of $465.87. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The business had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. Research analysts forecast that Kinsale Capital Group, Inc. will post 15.67 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.17 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.15%. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.42%.

Insider Activity

In other news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now directly owns 7,348 shares in the company, valued at $3,672,456.92. This represents a 23.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares in the company, valued at $3,566,940. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,235 shares of company stock valued at $3,618,954 over the last quarter. Company insiders own 5.60% of the company’s stock.

About Kinsale Capital Group

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.