SG Americas Securities LLC Boosts Stock Holdings in Kinsale Capital Group, Inc. $KNSL

SG Americas Securities LLC lifted its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 76.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,385 shares of the financial services provider’s stock after purchasing an additional 10,981 shares during the period. SG Americas Securities LLC owned about 0.11% of Kinsale Capital Group worth $9,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bamco Inc. NY raised its position in shares of Kinsale Capital Group by 1.4% in the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock worth $760,616,000 after acquiring an additional 24,796 shares during the period. JPMorgan Chase & Co. grew its position in shares of Kinsale Capital Group by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock valued at $191,386,000 after acquiring an additional 25,428 shares during the period. Riverbridge Partners LLC grew its position in shares of Kinsale Capital Group by 11.1% during the 3rd quarter. Riverbridge Partners LLC now owns 290,524 shares of the financial services provider’s stock valued at $123,548,000 after acquiring an additional 29,053 shares during the period. Invesco Ltd. increased its stake in shares of Kinsale Capital Group by 2.6% in the 3rd quarter. Invesco Ltd. now owns 274,724 shares of the financial services provider’s stock valued at $116,829,000 after purchasing an additional 6,934 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Kinsale Capital Group by 15.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 273,724 shares of the financial services provider’s stock worth $116,390,000 after purchasing an additional 35,864 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KNSL shares. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research report on Wednesday, February 25th. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Truist Financial dropped their price target on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Finally, Cantor Fitzgerald cut their price target on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $430.91.

Kinsale Capital Group Stock Up 0.2%

Shares of KNSL opened at $328.01 on Monday. Kinsale Capital Group, Inc. has a 52-week low of $321.97 and a 52-week high of $512.76. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $377.03 and a two-hundred day simple moving average of $397.44. The company has a market capitalization of $7.59 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The firm had revenue of $483.27 million for the quarter, compared to analysts’ expectations of $467.66 million. During the same quarter in the previous year, the company posted $4.62 EPS. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.61%.

Kinsale Capital Group announced that its Board of Directors has initiated a share buyback program on Thursday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Kinsale Capital Group

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.