Intech Investment Management LLC Buys 4,482 Shares of Kinsale Capital Group, Inc. $KNSL

Intech Investment Management LLC boosted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 32.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,174 shares of the financial services provider’s stock after acquiring an additional 4,482 shares during the period. Intech Investment Management LLC owned 0.08% of Kinsale Capital Group worth $7,729,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Kinsale Capital Group during the 2nd quarter valued at about $125,812,000. Orion Porfolio Solutions LLC lifted its position in shares of Kinsale Capital Group by 1,141.4% in the second quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock worth $39,546,000 after buying an additional 75,141 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in Kinsale Capital Group during the second quarter valued at approximately $32,034,000. Westfield Capital Management Co. LP grew its holdings in Kinsale Capital Group by 127.4% during the 2nd quarter. Westfield Capital Management Co. LP now owns 117,394 shares of the financial services provider’s stock valued at $56,807,000 after buying an additional 65,770 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Kinsale Capital Group by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 168,493 shares of the financial services provider’s stock worth $81,537,000 after acquiring an additional 31,250 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KNSL shares. Wells Fargo & Company started coverage on Kinsale Capital Group in a research report on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price for the company. TD Cowen decreased their price target on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. BMO Capital Markets cut shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective for the company. in a research note on Wednesday. Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $441.91.

Kinsale Capital Group Trading Up 1.9%

Shares of KNSL opened at $389.80 on Friday. The company’s fifty day simple moving average is $393.52 and its 200-day simple moving average is $411.74. The company has a market cap of $9.02 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.57 and a beta of 0.99. The company has a current ratio of 0.08, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a twelve month low of $341.06 and a twelve month high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, beating the consensus estimate of $5.30 by $0.51. The company had revenue of $483.27 million for the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same period in the prior year, the firm posted $4.62 EPS. As a group, analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

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

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio is 4.61%.

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.