Allworth Financial LP Increases Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Allworth Financial LP lifted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 450.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88 shares of the financial services provider’s stock after purchasing an additional 72 shares during the quarter. Allworth Financial LP’s holdings in Kinsale Capital Group were worth $39,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in KNSL. Geode Capital Management LLC raised its holdings in Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock worth $246,810,000 after purchasing an additional 29,686 shares in the last quarter. Avior Wealth Management LLC grew its position in 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 buying an additional 1,035 shares during the last quarter. Geneva Capital Management LLC grew its position in Kinsale Capital Group by 1.3% in the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after buying an additional 5,207 shares during the last quarter. Swedbank AB boosted its position in shares of Kinsale Capital Group by 5.0% during the 3rd quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock worth $19,582,000 after purchasing an additional 2,010 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Kinsale Capital Group by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 148,475 shares of the financial services provider’s stock worth $69,126,000 after purchasing an additional 3,469 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Insider Activity at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the sale, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now directly owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This trade represents a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

KNSL stock opened at $421.79 on Wednesday. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $548.47. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $451.13 and its 200 day simple moving average is $465.23. The firm has a market cap of $9.82 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.66 and a beta of 1.16.

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

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.16%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.82%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KNSL shares. Morgan Stanley cut their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Truist Financial lifted their price target on Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. decreased 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. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Finally, BMO Capital Markets upped their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $468.56.

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.