Dynamic Technology Lab Private Ltd Makes New Investment in Kinsale Capital Group, Inc. $KNSL

Dynamic Technology Lab Private Ltd purchased a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,880 shares of the financial services provider’s stock, valued at approximately $1,225,000.

Several other institutional investors have also modified their holdings of KNSL. Root Financial Partners LLC acquired a new position in shares of Kinsale Capital Group in the 3rd quarter valued at approximately $33,000. Darwin Wealth Management LLC acquired a new stake in Kinsale Capital Group during the 2nd quarter worth approximately $38,000. VSM Wealth Advisory LLC acquired a new stake in Kinsale Capital Group during the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC bought a new position in Kinsale Capital Group in the third quarter valued at approximately $40,000. Finally, Eastern Bank bought a new position in Kinsale Capital Group in the third quarter valued at approximately $43,000. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Trading Down 1.6%

NYSE:KNSL opened at $372.50 on Monday. Kinsale Capital Group, Inc. has a twelve month low of $341.06 and a twelve month high of $512.76. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $392.31 and a two-hundred day moving average price of $408.82. The company has a market cap of $8.62 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.54 and a beta of 1.01.

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

Kinsale Capital Group announced that its Board of Directors has approved a stock repurchase program on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 26th. Kinsale Capital Group’s payout ratio is 4.61%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald reduced their price target on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. 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 report 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 research 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 research note on Wednesday, February 25th. Finally, Royal Bank Of Canada started coverage on Kinsale Capital Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 target price for the company. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $441.91.

Kinsale Capital Group Profile

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.