Driehaus Capital Management LLC trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 53.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,631 shares of the financial services provider’s stock after selling 31,051 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.11% of Kinsale Capital Group worth $12,387,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Kinsale Capital Group in the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust acquired a new position in Kinsale Capital Group during the 4th quarter valued at approximately $31,000. Larson Financial Group LLC grew its stake in 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 buying an additional 74 shares during the last quarter. Allworth Financial LP increased its position in Kinsale Capital Group by 450.0% in the fourth quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after buying an additional 72 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Kinsale Capital Group in the fourth quarter valued at $46,000. 85.36% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
KNSL has been the topic of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Morgan Stanley cut their price target on Kinsale Capital Group from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Truist Financial decreased their price objective on Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating for the company in a report on Monday, April 28th. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $470.00.
Kinsale Capital Group Trading Down 0.7 %
Shares of Kinsale Capital Group stock opened at $454.46 on Friday. The business has a fifty day simple moving average of $463.50 and a 200-day simple moving average of $461.45. Kinsale Capital Group, Inc. has a fifty-two week low of $366.92 and a fifty-two week high of $531.79. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29. 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 – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.56. The company had revenue of $423.40 million during the quarter, compared to the consensus estimate of $425.73 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. Kinsale Capital Group’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.50 EPS. On average, equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.
Kinsale Capital Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a $0.17 dividend. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.15%. Kinsale Capital Group’s payout ratio is 3.91%.
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.
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