6,568 Shares in Kinsale Capital Group, Inc. (NYSE:KNSL) Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,568 shares of the financial services provider’s stock, valued at approximately $3,055,000.

Several other institutional investors also recently bought and sold shares of the business. Handelsbanken Fonder AB raised its holdings in shares of Kinsale Capital Group by 1,119.0% during the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock valued at $32,885,000 after buying an additional 64,900 shares during the period. Westfield Capital Management Co. LP grew its position in Kinsale Capital Group by 65.3% in the third quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock valued at $69,471,000 after acquiring an additional 58,971 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Kinsale Capital Group during the fourth quarter valued at approximately $22,933,000. DAVENPORT & Co LLC lifted its position 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 in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Kinsale Capital Group in the third quarter valued at $18,599,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

KNSL stock opened at $456.13 on Wednesday. The stock’s 50 day simple moving average is $443.48 and its 200 day simple moving average is $461.91. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $536.84. The firm has a market cap of $10.62 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.66 and a beta of 1.25. 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 (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 analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The company had revenue of $412.12 million for the quarter, compared to analysts’ expectations 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 business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a $0.17 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s payout ratio is presently 3.82%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KNSL shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Truist Financial boosted their price target on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lowered 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. Morgan Stanley dropped their price objective on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, BMO Capital Markets increased their target price 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.