Verdence Capital Advisors LLC Purchases Shares of 1,156 Kinsale Capital Group, Inc. (NYSE:KNSL)

Verdence Capital Advisors LLC acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the 4th quarter, Holdings Channel reports. The fund acquired 1,156 shares of the financial services provider’s stock, valued at approximately $387,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KNSL. Carnegie Capital Asset Management LLC bought a new stake in Kinsale Capital Group during the fourth quarter worth about $8,002,000. Navellier & Associates Inc. bought a new position in shares of Kinsale Capital Group in the 3rd quarter valued at about $975,000. Scout Investments Inc. increased its stake in shares of Kinsale Capital Group by 38.0% during the 3rd quarter. Scout Investments Inc. now owns 94,729 shares of the financial services provider’s stock worth $38,780,000 after purchasing an additional 26,084 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in Kinsale Capital Group by 116.1% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 12,381 shares of the financial services provider’s stock valued at $5,127,000 after purchasing an additional 6,651 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Kinsale Capital Group by 154.5% during the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock worth $109,362,000 after purchasing an additional 198,129 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KNSL shares. JPMorgan Chase & Co. raised their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Truist Financial upped their target price on Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Royal Bank of Canada increased their price objective on Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, BMO Capital Markets downgraded shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and upped their price target for the company from $434.00 to $544.00 in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Kinsale Capital Group currently has an average rating of “Hold” and an average target price of $510.00.

Kinsale Capital Group Stock Performance

KNSL opened at $463.49 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12. Kinsale Capital Group, Inc. has a 52-week low of $297.33 and a 52-week high of $548.47. The firm has a market cap of $10.75 billion, a P/E ratio of 35.09 and a beta of 0.89. The business’s fifty day moving average is $492.26 and its 200-day moving average is $415.54.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Friday, February 16th. The financial services provider reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.43. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The business had revenue of $351.17 million during the quarter, compared to analysts’ expectations of $367.98 million. During the same quarter in the prior year, the business posted $2.60 earnings per share. Kinsale Capital Group’s revenue was up 41.5% compared to the same quarter last year. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 15.26 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a dividend of $0.15 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 26th. This represents a $0.60 annualized dividend and a dividend yield of 0.13%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.54%.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the sale, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the transaction, the director now directly owns 887 shares of the company’s stock, valued at approximately $464,867.83. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

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.