Kinsale Capital Group, Inc. $KNSL Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,539 shares of the financial services provider’s stock after selling 4,712 shares during the quarter. Envestnet Asset Management Inc. owned 0.70% of Kinsale Capital Group worth $69,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of Kinsale Capital Group during the 2nd quarter worth approximately $38,000. Root Financial Partners LLC acquired a new position in Kinsale Capital Group during the third quarter worth $33,000. VSM Wealth Advisory LLC purchased a new position in shares of Kinsale Capital Group during the second quarter worth $39,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Kinsale Capital Group in the third quarter valued at $43,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock valued at $49,000 after buying an additional 43 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KNSL. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. TD Cowen dropped their price objective on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Wells Fargo & Company assumed coverage on shares of Kinsale Capital Group in a research note on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price on the stock. Finally, Royal Bank Of Canada began coverage on shares of Kinsale Capital Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target for the company. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Kinsale Capital Group currently has an average rating of “Hold” and an average price target of $476.60.

Kinsale Capital Group Stock Up 1.1%

Shares of Kinsale Capital Group stock opened at $414.87 on Monday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 52-week low of $349.00 and a 52-week high of $512.76. The company has a market capitalization of $9.65 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.46 and a beta of 0.99. The company has a 50 day moving average of $392.19 and a 200 day moving average of $418.30.

Kinsale Capital Group declared that its board has initiated a stock buyback program on Thursday, December 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio is currently 4.91%.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.