Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 105.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 89,253 shares of the financial services provider’s stock after purchasing an additional 45,896 shares during the quarter. Ameriprise Financial Inc.’s holdings in Kinsale Capital Group were worth $41,509,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in Kinsale Capital Group by 34.4% in the third quarter. Barclays PLC now owns 11,772 shares of the financial services provider’s stock worth $5,480,000 after purchasing an additional 3,014 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Kinsale Capital Group by 7.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,195 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 157 shares during the period. Park Avenue Securities LLC lifted its holdings in Kinsale Capital Group by 19.1% in the fourth quarter. Park Avenue Securities LLC now owns 2,670 shares of the financial services provider’s stock worth $1,242,000 after purchasing an additional 429 shares during the period. Outlook Wealth Advisors LLC acquired a new stake in Kinsale Capital Group in the fourth quarter worth about $459,000. Finally, Argent Capital Management LLC acquired a new stake in Kinsale Capital Group in the fourth quarter worth about $1,736,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock opened at $454.46 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $463.50 and its two-hundred day moving average price is $461.49. Kinsale Capital Group, Inc. has a 52 week low of $366.92 and a 52 week high of $531.79. The stock has a market cap of $10.59 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.56. The firm had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.50 EPS. As a group, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, February 27th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is presently 3.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KNSL shares. Truist Financial reduced their price objective on shares of Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating for the company in a report on Monday, April 28th. Morgan Stanley reduced their price objective on shares of Kinsale Capital Group from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. JPMorgan Chase & Co. reduced 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, Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of “Hold” and an average price target of $470.00.

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.