Moran Wealth Management LLC Takes Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Moran Wealth Management LLC acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,568 shares of the financial services provider’s stock, valued at approximately $3,055,000.

A number of other large investors have also modified their holdings of the company. Handelsbanken Fonder AB grew its position in Kinsale Capital Group by 1,119.0% in the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock worth $32,885,000 after purchasing an additional 64,900 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Kinsale Capital Group by 65.3% during the third quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock valued at $69,471,000 after buying an additional 58,971 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $22,933,000. DAVENPORT & Co LLC grew its holdings in Kinsale Capital Group by 9.6% in the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after buying an additional 44,931 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in Kinsale Capital Group in the 3rd quarter worth approximately $18,599,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $456.13 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50 day moving average is $443.48 and its 200-day moving average is $461.91. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $536.84. The stock has a market capitalization of $10.62 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.39. The firm had revenue of $412.12 million for 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%. Equities research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.15%. Kinsale Capital Group’s payout ratio is 3.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KNSL. Morgan Stanley reduced their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. BMO Capital Markets increased their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Truist Financial boosted their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $468.56.

Kinsale Capital Group Company 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.