Zions Bancorporation N.A. Acquires 1,087 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Zions Bancorporation N.A. raised its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 20.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,438 shares of the financial services provider’s stock after acquiring an additional 1,087 shares during the quarter. Zions Bancorporation N.A.’s holdings in Kinsale Capital Group were worth $2,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after purchasing an additional 29,686 shares in the last quarter. Swedbank AB raised its stake in shares of Kinsale Capital Group by 5.0% in the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock worth $19,582,000 after buying an additional 2,010 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Kinsale Capital Group by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 148,475 shares of the financial services provider’s stock valued at $69,126,000 after buying an additional 3,469 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Kinsale Capital Group during the 4th quarter valued at approximately $1,071,000. Finally, Argent Capital Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter worth approximately $1,736,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

KNSL has been the topic of several analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley cut their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Finally, Truist Financial upped their price objective on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $481.98 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $536.84. The business has a 50 day simple moving average of $448.46 and a two-hundred day simple moving average of $460.38. The stock has a market capitalization of $11.22 billion, a PE ratio of 27.09, a P/E/G ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. The firm had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. On average, research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.14%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio is currently 3.82%.

About Kinsale Capital Group

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.