JPMorgan Chase & Co. Increases Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

JPMorgan Chase & Co. increased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,595 shares of the financial services provider’s stock after buying an additional 18,661 shares during the period. JPMorgan Chase & Co. owned 1.42% of Kinsale Capital Group worth $153,305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Kinsale Capital Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after acquiring an additional 29,686 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Kinsale Capital Group in the 4th quarter worth approximately $1,071,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kinsale Capital Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider’s stock worth $70,907,000 after purchasing an additional 3,970 shares during the period. Argent Capital Management LLC purchased a new stake in Kinsale Capital Group during the 4th quarter valued at $1,736,000. Finally, SBI Securities Co. Ltd. bought a new stake in Kinsale Capital Group in the fourth quarter worth $46,000. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $488.01 on Wednesday. The stock has a market capitalization of $11.36 billion, a PE ratio of 27.43, a PEG ratio of 1.66 and a beta of 1.25. The company has a 50 day moving average price of $454.36 and a 200-day moving average price of $461.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The business had revenue of $412.12 million for the quarter, compared to the consensus estimate of $418.32 million. Equities 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price 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. Morgan Stanley cut their target price on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. 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 research note on Tuesday, February 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.