Congress Asset Management Co. Increases Position in Kinsale Capital Group, Inc. $KNSL

Congress Asset Management Co. lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,877 shares of the financial services provider’s stock after acquiring an additional 2,049 shares during the period. Congress Asset Management Co. owned 0.17% of Kinsale Capital Group worth $15,205,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Johnson Financial Group Inc. grew its stake in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. Root Financial Partners LLC bought a new position in Kinsale Capital Group in the third quarter worth about $33,000. Larson Financial Group LLC lifted its position in shares of Kinsale Capital Group by 225.0% during the third quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock valued at $33,000 after buying an additional 54 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Kinsale Capital Group during the second quarter valued at about $38,000. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Kinsale Capital Group in the 3rd quarter valued at about $40,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $326.64 on Wednesday. Kinsale Capital Group, Inc. has a fifty-two week low of $322.96 and a fifty-two week high of $512.76. The company has a market cap of $7.56 billion, a PE ratio of 15.07, a P/E/G ratio of 1.07 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 0.08. The business has a 50-day simple moving average of $381.10 and a two-hundred day simple moving average of $399.77.

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

Kinsale Capital Group announced that its board has approved a stock buyback program on Thursday, December 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis 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 currently 4.61%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on KNSL shares. BMO Capital Markets downgraded shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective on the stock. in a research report on Wednesday, February 25th. Truist Financial decreased their target price on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Cantor Fitzgerald cut their price target on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada started coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and an average target price of $430.91.

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.