Cerity Partners LLC Makes New $404,000 Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

Cerity Partners LLC bought a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,206 shares of the financial services provider’s stock, valued at approximately $404,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Kinsale Capital Group by 15.4% during the third quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock worth $287,435,000 after acquiring an additional 92,496 shares during the last quarter. DAVENPORT & Co LLC boosted its position in shares of Kinsale Capital Group by 154.5% during the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock worth $109,362,000 after acquiring an additional 198,129 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in shares of Kinsale Capital Group by 4,798.0% during the third quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock worth $101,692,000 after acquiring an additional 240,668 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Kinsale Capital Group by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 217,546 shares of the financial services provider’s stock worth $90,092,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Copeland Capital Management LLC raised its stake in Kinsale Capital Group by 4.6% during the fourth quarter. Copeland Capital Management LLC now owns 201,138 shares of the financial services provider’s stock valued at $67,363,000 after purchasing an additional 8,803 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the transaction, the director now owns 887 shares of the company’s stock, valued at approximately $464,867.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the transaction, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KNSL shares. Truist Financial upped their price target on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Royal Bank of Canada upped their price target on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. upped their price target on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, BMO Capital Markets downgraded shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and upped their price target for the company from $434.00 to $544.00 in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $510.00.

Kinsale Capital Group Trading Down 1.2 %

Shares of KNSL opened at $453.09 on Friday. Kinsale Capital Group, Inc. has a twelve month low of $297.33 and a twelve month high of $548.47. The company has a market cap of $10.51 billion, a P/E ratio of 34.30 and a beta of 0.89. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $494.22 and its 200-day simple moving average is $416.33.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Friday, February 16th. The financial services provider reported $3.87 EPS for the quarter, topping the consensus estimate of $3.44 by $0.43. The company had revenue of $351.17 million for the quarter, compared to the consensus estimate of $367.98 million. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The firm’s revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 EPS. As a group, analysts expect that Kinsale Capital Group, Inc. will post 15.26 EPS for the current year.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.54%.

Kinsale Capital Group Profile

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.