LPL Financial LLC Has $9.31 Million Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

LPL Financial LLC boosted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 29.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,415 shares of the financial services provider’s stock after acquiring an additional 4,644 shares during the period. LPL Financial LLC’s holdings in Kinsale Capital Group were worth $9,310,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust bought a new position in Kinsale Capital Group during the 4th quarter valued at $31,000. Larson Financial Group LLC boosted its holdings 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 acquiring an additional 74 shares during the last quarter. Allworth Financial LP grew its stake 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 in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Kinsale Capital Group during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Trading Down 7.8 %

Kinsale Capital Group stock opened at $459.89 on Friday. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $531.79. The stock has a market cap of $10.70 billion, a P/E ratio of 25.85, a PEG ratio of 1.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The firm’s fifty day moving average price is $457.25 and its 200-day moving average price is $461.88.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating 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 return on equity of 28.04% and a net margin of 26.13%. Equities 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 firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a dividend of $0.17 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. Kinsale Capital Group’s dividend payout ratio is presently 3.82%.

Analyst Upgrades and Downgrades

Several research firms have commented on KNSL. Truist Financial increased their price objective on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price target on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Morgan Stanley cut their price objective on 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. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, Royal Bank of Canada reiterated 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. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $468.56.

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.