Cumberland Partners Ltd Buys New Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Cumberland Partners Ltd bought a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,000 shares of the financial services provider’s stock, valued at approximately $335,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Kinsale Capital Group by 15.4% in the 3rd quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock valued at $287,435,000 after acquiring an additional 92,496 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Kinsale Capital Group by 154.5% in the 4th quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock valued at $109,362,000 after acquiring an additional 198,129 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in Kinsale Capital Group by 4,798.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock valued at $101,692,000 after acquiring an additional 240,668 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Kinsale Capital Group by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 217,546 shares of the financial services provider’s stock valued at $90,092,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Copeland Capital Management LLC raised its holdings in Kinsale Capital Group by 4.6% in the 4th quarter. Copeland Capital Management LLC now owns 201,138 shares of the financial services provider’s stock valued at $67,363,000 after acquiring an additional 8,803 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on KNSL. JPMorgan Chase & Co. upped their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Truist Financial upped their price objective on Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. BMO Capital Markets downgraded Kinsale Capital Group from an “outperform” rating to a “market perform” rating and increased their price target for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Finally, Royal Bank of Canada increased their price target on Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $510.00.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the transaction, the director now directly owns 887 shares of the company’s stock, valued at $464,867.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Michael P. Kehoe sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the transaction, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the transaction, the director now owns 887 shares of the company’s stock, valued at approximately $464,867.83. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL traded down $4.65 during mid-day trading on Wednesday, reaching $459.71. 106,008 shares of the company traded hands, compared to its average volume of 181,771. Kinsale Capital Group, Inc. has a fifty-two week low of $297.33 and a fifty-two week high of $548.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $10.66 billion, a PE ratio of 35.11 and a beta of 0.89. The stock has a fifty day simple moving average of $493.30 and a 200-day simple moving average of $415.77.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.43. The company had revenue of $351.17 million during the quarter, compared to analyst estimates of $367.98 million. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter last year, the business posted $2.60 EPS. Equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.26 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.15 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group’s payout ratio is 4.54%.

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.