Intech Investment Management LLC Boosts Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Intech Investment Management LLC increased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.9% in the third quarter, Holdings Channel.com reports. The fund owned 9,515 shares of the financial services provider’s stock after acquiring an additional 173 shares during the quarter. Intech Investment Management LLC’s holdings in Kinsale Capital Group were worth $4,430,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC purchased a new position in Kinsale Capital Group during the first quarter worth about $301,000. CANADA LIFE ASSURANCE Co increased its position in shares of Kinsale Capital Group by 18.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 14,836 shares of the financial services provider’s stock worth $7,776,000 after purchasing an additional 2,302 shares during the last quarter. Ascent Group LLC raised its stake in Kinsale Capital Group by 7.9% in the first quarter. Ascent Group LLC now owns 4,029 shares of the financial services provider’s stock valued at $2,114,000 after purchasing an additional 294 shares in the last quarter. 2Xideas AG lifted its position in Kinsale Capital Group by 15.0% during the first quarter. 2Xideas AG now owns 30,022 shares of the financial services provider’s stock valued at $15,754,000 after purchasing an additional 3,911 shares during the last quarter. Finally, Vancity Investment Management Ltd purchased a new position in Kinsale Capital Group in the 1st quarter worth approximately $472,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KNSL. Royal Bank of Canada lowered their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Truist Financial dropped their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Jefferies Financial Group increased their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. BMO Capital Markets boosted their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $456.88.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $498.96 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a fifty-two week low of $325.01 and a fifty-two week high of $548.47. The business has a 50 day moving average price of $459.56 and a 200-day moving average price of $431.44. The firm has a market cap of $11.62 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 2.02 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The business had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company’s revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.31 EPS. Equities research analysts predict that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.12%. Kinsale Capital Group’s dividend payout ratio is presently 3.42%.

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.