IFP Advisors Inc Increases Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

IFP Advisors Inc raised its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 812.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,291 shares of the financial services provider’s stock after purchasing an additional 2,040 shares during the quarter. IFP Advisors Inc’s holdings in Kinsale Capital Group were worth $1,067,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Transcend Capital Advisors LLC acquired a new position in Kinsale Capital Group during the fourth quarter worth about $296,000. Arcadia Investment Management Corp MI lifted its stake in Kinsale Capital Group by 64.5% in the 4th quarter. Arcadia Investment Management Corp MI now owns 778 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 305 shares in the last quarter. Covey Capital Advisors LLC purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $585,000. Handelsbanken Fonder AB boosted 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 worth $32,885,000 after purchasing an additional 64,900 shares during the last quarter. Finally, Jacobson & Schmitt Advisors LLC grew its position in shares of Kinsale Capital Group by 0.5% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 35,774 shares of the financial services provider’s stock valued at $16,640,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insider Activity

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the sale, the director now directly owns 7,348 shares in the company, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial lifted their price objective on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. BMO Capital Markets lifted their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Morgan Stanley cut their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 target price on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Trading Up 2.9 %

NYSE KNSL opened at $428.84 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $9.99 billion, a P/E ratio of 24.11, a PEG ratio of 1.66 and a beta of 1.16. The firm’s 50-day moving average is $447.97 and its two-hundred day moving average is $464.33. Kinsale Capital Group, Inc. has a 12 month low of $355.12 and a 12 month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data 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. The firm had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. On average, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.17 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.82%.

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.