Norges Bank Purchases New Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Norges Bank acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 191,774 shares of the financial services provider’s stock, valued at approximately $89,200,000.

Several other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its position in Kinsale Capital Group by 11.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 21 shares during the period. Ballentine Partners LLC boosted its position in shares of Kinsale Capital Group by 4.6% during the 4th quarter. Ballentine Partners LLC now owns 573 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 25 shares in the last quarter. Caprock Group LLC increased its stake in Kinsale Capital Group by 1.7% in the fourth quarter. Caprock Group LLC now owns 1,653 shares of the financial services provider’s stock valued at $769,000 after acquiring an additional 28 shares during the period. Fielder Capital Group LLC raised its position in Kinsale Capital Group by 5.5% in the fourth quarter. Fielder Capital Group LLC now owns 595 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 31 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Kinsale Capital Group by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 716 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KNSL. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price objective on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Morgan Stanley lowered their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Truist Financial lifted their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus price target of $468.56.

Kinsale Capital Group Stock Up 0.7 %

NYSE KNSL opened at $491.46 on Thursday. The stock has a market capitalization of $11.44 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $531.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a fifty day moving average of $455.40 and a 200-day moving average of $461.59.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 EPS 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 analyst estimates of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. On average, equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a $0.17 dividend. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio is currently 3.82%.

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.