JPMorgan Chase & Co. Increases Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

JPMorgan Chase & Co. raised its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 329,595 shares of the financial services provider’s stock after buying an additional 18,661 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kinsale Capital Group were worth $153,305,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KNSL. Handelsbanken Fonder AB raised its stake in Kinsale Capital Group by 1,119.0% in the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock worth $32,885,000 after acquiring an additional 64,900 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth about $22,933,000. DAVENPORT & Co LLC lifted its holdings in shares of Kinsale Capital Group by 9.6% during the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after purchasing an additional 44,931 shares during the period. Raymond James Financial Inc. acquired a new position in Kinsale Capital Group in the 4th quarter worth approximately $18,323,000. Finally, Wilkinson Global Asset Management LLC raised its position in Kinsale Capital Group by 913.9% during the 4th quarter. Wilkinson Global Asset Management LLC now owns 40,402 shares of the financial services provider’s stock worth $18,792,000 after buying an additional 36,417 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 0.3 %

Shares of Kinsale Capital Group stock opened at $488.01 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month high of $531.79. The firm has a market capitalization of $11.36 billion, a PE ratio of 27.43, a P/E/G ratio of 1.66 and a beta of 1.25. The firm’s 50-day moving average price is $454.36 and its 200 day moving average price is $461.38.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. On average, sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.17 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is presently 3.82%.

Wall Street Analysts Forecast Growth

KNSL has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Morgan Stanley lowered their target price 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Finally, Truist Financial boosted their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Eight equities research 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 currently has a consensus rating of “Hold” and a consensus price target 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.