Franklin Resources Inc. Acquires 15,865 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Franklin Resources Inc. grew its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 16.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,985 shares of the financial services provider’s stock after acquiring an additional 15,865 shares during the quarter. Franklin Resources Inc. owned 0.49% of Kinsale Capital Group worth $52,553,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Kinsale Capital Group during the 4th quarter worth approximately $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $31,000. Larson Financial Group LLC increased its position in shares of Kinsale Capital Group by 7,400.0% during the fourth quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 74 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Kinsale Capital Group by 450.0% during the fourth quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 72 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Kinsale Capital Group in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $459.89 on Friday. 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 fifty day simple moving average is $457.25 and its 200 day simple moving average is $461.88. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $531.79. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.66 and a beta of 1.16.

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

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.17 dividend. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.15%. Kinsale Capital Group’s dividend payout ratio is currently 3.82%.

Analysts Set New Price Targets

KNSL has been the subject of a number of research reports. Truist Financial increased their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Morgan Stanley lowered their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Eight investment 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $468.56.

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.