Jackson Square Partners LLC Trims Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Jackson Square Partners LLC lessened its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 16.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 40,690 shares of the financial services provider’s stock after selling 8,141 shares during the period. Kinsale Capital Group comprises approximately 2.0% of Jackson Square Partners LLC’s portfolio, making the stock its 28th largest position. Jackson Square Partners LLC owned 0.17% of Kinsale Capital Group worth $18,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of KNSL. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Kinsale Capital Group in the fourth quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $31,000. Larson Financial Group LLC grew its stake in shares of Kinsale Capital Group by 7,400.0% during the 4th quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 74 shares during the period. Allworth Financial LP grew its holdings in shares of Kinsale Capital Group by 450.0% in the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 72 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Kinsale Capital Group in the fourth quarter valued at $46,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KNSL has been the topic of several analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Morgan Stanley reduced their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Truist Financial raised their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $468.56.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $481.98 on Tuesday. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month 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. The company’s 50-day simple moving average is $448.46 and its 200 day simple moving average is $460.38. The stock has a market cap of $11.22 billion, a P/E ratio of 27.09, a PEG ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS 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 company had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. As a group, research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share 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. Investors of record on Thursday, February 27th were given a $0.17 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group’s payout ratio is currently 3.82%.

Kinsale Capital Group 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.