Kinsale Capital Group, Inc. $KNSL Position Boosted by Renaissance Group LLC

Renaissance Group LLC boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 21.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,816 shares of the financial services provider’s stock after acquiring an additional 3,465 shares during the quarter. Renaissance Group LLC’s holdings in Kinsale Capital Group were worth $8,427,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC bought a new position in shares of Kinsale Capital Group in the 3rd quarter valued at about $33,000. Darwin Wealth Management LLC acquired a new position in Kinsale Capital Group during the second quarter valued at approximately $38,000. VSM Wealth Advisory LLC acquired a new position in shares of Kinsale Capital Group during the second quarter worth $39,000. Eastern Bank acquired a new stake in Kinsale Capital Group in the third quarter valued at $43,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Kinsale Capital Group during the 3rd quarter worth about $43,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Royal Bank Of Canada assumed coverage on shares of Kinsale Capital Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective on the stock. Cantor Fitzgerald dropped their target price on shares of Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. TD Cowen lowered their target price on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company started coverage on shares of Kinsale Capital Group in a research report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $476.60.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $414.87 on Friday. The firm has a market cap of $9.65 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.44 and a beta of 0.99. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 12 month low of $349.00 and a 12 month high of $512.76. The stock’s fifty day moving average price is $392.19 and its 200-day moving average price is $419.20.

Kinsale Capital Group declared that its Board of Directors has authorized a share buyback program on Thursday, December 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.34%.

About Kinsale Capital Group

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.