Connable Office Inc. Takes $323,000 Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Connable Office Inc. purchased a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 695 shares of the financial services provider’s stock, valued at approximately $323,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth about $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth about $31,000. Allworth Financial LP lifted its stake in shares of Kinsale Capital Group by 450.0% in the fourth quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after buying an additional 72 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Kinsale Capital Group by 67.2% in the fourth quarter. UMB Bank n.a. now owns 102 shares of the financial services provider’s stock worth $47,000 after buying an additional 41 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in shares of Kinsale Capital Group by 43.6% in the fourth quarter. Mather Group LLC. now owns 168 shares of the financial services provider’s stock worth $78,000 after buying an additional 51 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $432.20 on Friday. The company’s 50 day simple moving average is $447.29 and its 200-day simple moving average is $464.10. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $548.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. The business had revenue of $412.12 million for the quarter, compared to the consensus estimate of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be issued a $0.17 dividend. The ex-dividend date is Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.16%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is 3.82%.

Insider Activity at Kinsale Capital Group

In related news, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the transaction, the director now owns 7,348 shares in the company, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares of the company’s stock, valued at $3,566,940. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

KNSL has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. BMO Capital Markets lifted their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Truist Financial lifted their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target 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.