DAVENPORT & Co LLC Acquires 10,137 Shares of Kinsale Capital Group, Inc. $KNSL

DAVENPORT & Co LLC lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 530,043 shares of the financial services provider’s stock after acquiring an additional 10,137 shares during the period. Kinsale Capital Group accounts for about 1.1% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 15th largest position. DAVENPORT & Co LLC owned approximately 2.28% of Kinsale Capital Group worth $208,443,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Epoch Investment Partners Inc. increased its position in shares of Kinsale Capital Group by 1.1% during the second quarter. Epoch Investment Partners Inc. now owns 2,174 shares of the financial services provider’s stock valued at $1,052,000 after purchasing an additional 23 shares during the period. Vident Advisory LLC lifted its holdings in Kinsale Capital Group by 2.9% during the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 23 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Kinsale Capital Group by 20.9% in the second quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 28 shares during the last quarter. Diversified Trust Co boosted its stake in Kinsale Capital Group by 0.6% in the third quarter. Diversified Trust Co now owns 4,805 shares of the financial services provider’s stock worth $2,043,000 after purchasing an additional 31 shares in the last quarter. Finally, SkyOak Wealth LLC lifted its position in Kinsale Capital Group by 5.0% during the 3rd quarter. SkyOak Wealth LLC now owns 654 shares of the financial services provider’s stock worth $278,000 after buying an additional 31 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KNSL. Wells Fargo & Company started coverage on Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. Cantor Fitzgerald decreased 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 research note on Tuesday, February 17th. BMO Capital Markets downgraded 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 report on Wednesday, February 25th. Finally, Jefferies Financial Group lowered Kinsale Capital Group from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $392.00 to $312.00 in a research report on Thursday, March 19th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and an average target price of $430.91.

Kinsale Capital Group Trading Down 0.4%

Kinsale Capital Group stock opened at $326.64 on Wednesday. The stock has a 50-day simple moving average of $381.10 and a 200 day simple moving average of $399.77. The stock has a market capitalization of $7.56 billion, a P/E ratio of 15.07, a PEG ratio of 1.07 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 0.08. Kinsale Capital Group, Inc. has a 52 week low of $322.96 and a 52 week high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same quarter in the prior year, the company earned $4.62 earnings per share. Analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

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

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

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.