Geode Capital Management LLC Boosts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Geode Capital Management LLC grew its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 544,954 shares of the financial services provider’s stock after buying an additional 16,246 shares during the quarter. Geode Capital Management LLC owned 2.34% of Kinsale Capital Group worth $254,441,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Kinsale Capital Group in the fourth quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Kinsale Capital Group in the 4th quarter valued at approximately $31,000. Larson Financial Group LLC boosted its stake in shares of Kinsale Capital Group by 7,400.0% in the fourth quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Allworth Financial LP grew its holdings in 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. purchased a new position in Kinsale Capital Group in the fourth quarter worth $46,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $459.89 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $531.79. The business has a fifty day moving average of $457.25 and a 200-day moving average of $461.93. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data 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 business 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%. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a $0.17 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.15%. Kinsale Capital Group’s payout ratio is 3.82%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KNSL shares. JPMorgan Chase & Co. lowered their price target 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. Truist Financial increased their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company 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 note on Friday, February 14th. Morgan Stanley lowered their price target on 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, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price objective on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $468.56.

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.