Nomura Asset Management Co. Ltd. Increases Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Nomura Asset Management Co. Ltd. boosted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 169.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,563 shares of the financial services provider’s stock after purchasing an additional 984 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Kinsale Capital Group were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at $2,270,000. Norges Bank bought a new position in Kinsale Capital Group during the 4th quarter worth about $89,200,000. Blair William & Co. IL increased its position in Kinsale Capital Group by 5.7% during the 4th quarter. Blair William & Co. IL now owns 80,629 shares of the financial services provider’s stock valued at $37,503,000 after purchasing an additional 4,363 shares during the period. Sava Infond d.o.o. bought a new stake in shares of Kinsale Capital Group in the 4th quarter valued at about $977,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Kinsale Capital Group by 6.0% in the 4th quarter. JPMorgan Chase & Co. now owns 329,595 shares of the financial services provider’s stock worth $153,305,000 after purchasing an additional 18,661 shares during the period. 85.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KNSL shares. Truist Financial lifted their price objective 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. Morgan Stanley decreased their price objective on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. JPMorgan Chase & Co. cut their target price on 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. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of “Hold” and an average target price of $468.56.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $491.46 on Thursday. The company has a 50 day moving average price of $455.40 and a 200 day moving average price of $461.59. The firm has a market capitalization of $11.44 billion, a P/E ratio of 27.63, a PEG ratio of 1.66 and a beta of 1.25. 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 52 week low of $355.12 and a 52 week high of $531.79.

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 analysts’ consensus estimates of $4.23 by $0.39. The business had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, February 27th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is presently 3.82%.

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.