Oppenheimer & Co. Inc. Increases Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Oppenheimer & Co. Inc. raised its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,203 shares of the financial services provider’s stock after buying an additional 135 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Kinsale Capital Group were worth $3,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Kinsale Capital Group during the first quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new stake in Kinsale Capital Group during the 3rd quarter worth approximately $26,000. UMB Bank n.a. increased its stake in Kinsale Capital Group by 408.3% during the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 49 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of Kinsale Capital Group by 113.6% in the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after buying an additional 50 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after buying an additional 42 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Down 1.8 %

Shares of KNSL stock opened at $465.17 on Friday. Kinsale Capital Group, Inc. has a twelve month low of $325.01 and a twelve month high of $548.47. The stock has a market cap of $10.83 billion, a P/E ratio of 26.52, a P/E/G ratio of 2.05 and a beta of 1.09. The stock has a 50 day moving average of $458.27 and a 200 day moving average of $427.89. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $418.06 million during the quarter, compared to analyst estimates of $359.43 million. During the same period in the previous year, the firm earned $3.31 EPS. The business’s quarterly revenue was up 33.0% on a year-over-year basis. As a group, sell-side analysts expect that Kinsale Capital Group, Inc. will post 15.52 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KNSL shares. Royal Bank of Canada cut their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Jefferies Financial Group increased their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Truist Financial decreased their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and a consensus target price of $455.88.

Kinsale Capital Group 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.