Vestcor Inc Raises Position in Kinsale Capital Group, Inc. $KNSL

Vestcor Inc raised its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 250.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,589 shares of the financial services provider’s stock after acquiring an additional 1,850 shares during the quarter. Vestcor Inc’s holdings in Kinsale Capital Group were worth $1,101,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KNSL. Root Financial Partners LLC purchased a new position in shares of Kinsale Capital Group in the 3rd quarter valued at approximately $33,000. Darwin Wealth Management LLC purchased a new stake in Kinsale Capital Group in the second quarter worth $38,000. VSM Wealth Advisory LLC bought a new position in Kinsale Capital Group in the second quarter worth $39,000. Abich Financial Wealth Management LLC bought a new position in Kinsale Capital Group in the third quarter worth $40,000. Finally, Eastern Bank purchased a new position in Kinsale Capital Group during the third quarter valued at $43,000. Institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Truist Financial dropped their price objective on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. BMO Capital Markets lowered shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 target price for the company. in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada initiated coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $441.91.

Kinsale Capital Group Stock Performance

KNSL stock traded down $0.42 on Friday, hitting $361.44. The company had a trading volume of 18,471 shares, compared to its average volume of 239,225. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 12-month low of $341.06 and a 12-month high of $512.76. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.49 and a beta of 1.01. The stock’s 50-day simple moving average is $389.79 and its 200 day simple moving average is $406.84.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.30 by $0.51. The business had revenue of $483.27 million during the quarter, compared to analyst estimates of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same period in the previous year, the business earned $4.62 EPS. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group announced that its board has initiated a share buyback plan on Thursday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.61%.

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.