Renaissance Group LLC Has $8.43 Million Position in Kinsale Capital Group, Inc. $KNSL

Renaissance Group LLC grew its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 21.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,816 shares of the financial services provider’s stock after buying an additional 3,465 shares during the period. Renaissance Group LLC owned 0.09% of Kinsale Capital Group worth $8,427,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Root Financial Partners LLC purchased a new position in Kinsale Capital Group during the 3rd quarter valued at about $33,000. Darwin Wealth Management LLC bought a new stake in shares of Kinsale Capital Group in the second quarter worth about $38,000. VSM Wealth Advisory LLC purchased a new stake in Kinsale Capital Group during the second quarter valued at $39,000. Eastern Bank bought a new position in shares of Kinsale Capital Group in the 3rd quarter valued at about $43,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Kinsale Capital Group in the 3rd quarter worth approximately $43,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on KNSL. TD Cowen lowered their price objective on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Cantor Fitzgerald lowered their price target on shares of Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Wells Fargo & Company assumed coverage on Kinsale Capital Group in a research report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Kinsale Capital Group currently has an average rating of “Hold” and an average target price of $476.60.

Kinsale Capital Group Trading Up 1.1%

NYSE:KNSL opened at $414.87 on Friday. The firm’s 50 day moving average is $392.19 and its 200 day moving average is $419.20. The stock has a market capitalization of $9.65 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. Kinsale Capital Group, Inc. has a 12 month low of $349.00 and a 12 month high of $512.76. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is 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 yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is 3.34%.

Kinsale Capital Group declared that its board has authorized a share buyback program on Thursday, December 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Kinsale Capital Group Profile

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.