Novem Group Purchases New Shares in Kinsale Capital Group, Inc. (NYSE:KNSL)

Novem Group acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, Holdings Channel reports. The fund acquired 1,672 shares of the financial services provider’s stock, valued at approximately $778,000.

Several other institutional investors have also recently made changes to their positions in KNSL. Norges Bank bought a new position in shares of Kinsale Capital Group during the fourth quarter valued at about $89,200,000. Alliancebernstein L.P. increased its stake in Kinsale Capital Group by 486.3% in the 4th quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider’s stock valued at $99,559,000 after buying an additional 177,540 shares during the last quarter. Premier Fund Managers Ltd lifted its position in shares of Kinsale Capital Group by 20,286.0% during the 4th quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider’s stock worth $48,813,000 after buying an additional 104,270 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Kinsale Capital Group by 1,119.0% in the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock worth $32,885,000 after buying an additional 64,900 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $22,933,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

KNSL has been the subject of a number of research analyst reports. Truist Financial decreased their price target on Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Morgan Stanley lifted their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $484.57.

Kinsale Capital Group Stock Down 2.4%

KNSL stock opened at $464.97 on Thursday. The stock has a fifty day moving average of $465.64 and a 200-day moving average of $462.60. Kinsale Capital Group, Inc. has a fifty-two week low of $366.92 and a fifty-two week high of $531.79. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.56. The firm had revenue of $423.40 million during the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $3.50 earnings per share. As a group, equities research analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Company 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.