Alliancebernstein L.P. Boosts Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Alliancebernstein L.P. boosted its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 486.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 214,045 shares of the financial services provider’s stock after purchasing an additional 177,540 shares during the quarter. Alliancebernstein L.P. owned about 0.92% of Kinsale Capital Group worth $99,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its position in shares of Kinsale Capital Group by 29.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,026 shares of the financial services provider’s stock valued at $477,000 after buying an additional 236 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new position in Kinsale Capital Group in the 4th quarter valued at $49,000. California Public Employees Retirement System raised its holdings in Kinsale Capital Group by 11.8% in the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider’s stock valued at $18,299,000 after acquiring an additional 4,146 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth $3,746,000. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Kinsale Capital Group by 7.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 5,964 shares of the financial services provider’s stock worth $2,774,000 after purchasing an additional 432 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Trading Up 0.7 %

Shares of KNSL opened at $491.46 on Thursday. Kinsale Capital Group, Inc. has a 12 month low of $355.12 and a 12 month high of $531.79. The stock’s 50-day moving average is $455.40 and its two-hundred day moving average is $461.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $11.44 billion, a PE ratio of 27.63, a P/E/G ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39. The firm had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. Equities analysts forecast 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. Investors of record on Thursday, February 27th were paid a dividend of $0.17 per share. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s payout ratio is 3.82%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Morgan Stanley cut their price target on shares of 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. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, 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 report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.