Kinsale Capital Group, Inc. $KNSL Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,037 shares of the financial services provider’s stock after purchasing an additional 7,544 shares during the period. American Century Companies Inc. owned 0.76% of Kinsale Capital Group worth $74,864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Root Financial Partners LLC purchased a new stake in shares of Kinsale Capital Group in the third quarter valued at about $33,000. Darwin Wealth Management LLC acquired a new position in Kinsale Capital Group in the 2nd quarter valued at about $38,000. VSM Wealth Advisory LLC acquired a new position in Kinsale Capital Group in the 2nd quarter valued at about $39,000. Abich Financial Wealth Management LLC purchased a new stake in Kinsale Capital Group during the 3rd quarter valued at approximately $40,000. Finally, Eastern Bank acquired a new stake in Kinsale Capital Group during the 3rd quarter worth approximately $43,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KNSL. Cantor Fitzgerald dropped their target price on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. Wells Fargo & Company began coverage on shares of Kinsale Capital Group in a research note on Thursday, January 15th. They issued an “overweight” rating and a $490.00 price objective on the stock. Wall Street Zen cut shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a research note on Saturday. BMO Capital Markets downgraded shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 target price on the stock. in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $441.91.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $392.45 on Wednesday. The company has a market cap of $9.09 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. Kinsale Capital Group, Inc. has a one year low of $341.06 and a one year high of $512.76. The business has a fifty day moving average of $393.36 and a two-hundred day moving average of $410.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 0.08.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. During the same quarter last year, the firm posted $4.62 EPS. As a group, analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group declared that its board has authorized a stock repurchase plan on Thursday, December 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s payout ratio is 4.61%.

Kinsale Capital Group Company 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.