Raymond James Financial Inc. Takes Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Raymond James Financial Inc. acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 39,392 shares of the financial services provider’s stock, valued at approximately $18,323,000. Raymond James Financial Inc. owned approximately 0.17% of Kinsale Capital Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Kinsale Capital Group by 1.3% during the 3rd quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock valued at $320,957,000 after acquiring an additional 8,954 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kinsale Capital Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after purchasing an additional 29,686 shares during the last quarter. DAVENPORT & Co LLC grew its stake in shares of Kinsale Capital Group by 9.6% in the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after buying an additional 44,931 shares during the period. DF Dent & Co. Inc. raised its position in shares of Kinsale Capital Group by 3.0% during the 3rd quarter. DF Dent & Co. Inc. now owns 226,614 shares of the financial services provider’s stock valued at $105,505,000 after buying an additional 6,679 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Kinsale Capital Group by 2.9% in the fourth quarter. Bank of New York Mellon Corp now owns 183,345 shares of the financial services provider’s stock valued at $85,279,000 after acquiring an additional 5,213 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 0.5 %

NYSE KNSL opened at $457.63 on Tuesday. The stock has a market capitalization of $10.65 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. The firm has a 50 day moving average of $444.13 and a two-hundred day moving average of $460.94. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $536.84. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results 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. The company had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. As a group, research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.82%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley decreased their price target 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. Truist Financial lifted their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Finally, BMO Capital Markets lifted their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $468.56.

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.