Oppenheimer Asset Management Inc. Acquires 3,305 Shares of Kinsale Capital Group, Inc. $KNSL

Oppenheimer Asset Management Inc. grew its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 17.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,501 shares of the financial services provider’s stock after buying an additional 3,305 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Kinsale Capital Group were worth $9,569,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KNSL. AQR Capital Management LLC raised its holdings in shares of Kinsale Capital Group by 76.2% during the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock valued at $397,000 after acquiring an additional 361 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in Kinsale Capital Group in the second quarter valued at $243,000. Callan Family Office LLC purchased a new position in Kinsale Capital Group during the 2nd quarter valued at $530,000. Vanguard Personalized Indexing Management LLC raised its holdings in Kinsale Capital Group by 7.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,684 shares of the financial services provider’s stock worth $1,300,000 after purchasing an additional 190 shares in the last quarter. Finally, CWM LLC raised its holdings in Kinsale Capital Group by 37.6% in the 2nd quarter. CWM LLC now owns 494 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 135 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Price Performance

KNSL stock opened at $390.43 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a 50 day moving average price of $392.44 and a 200-day moving average price of $417.71. Kinsale Capital Group, Inc. has a 52-week low of $349.00 and a 52-week high of $512.76. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.46 and a beta of 0.99.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio is presently 3.34%.

Kinsale Capital Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KNSL shares. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a research report on Tuesday, December 16th. Finally, Wells Fargo & Company started coverage on Kinsale Capital Group in a report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $476.60.

About Kinsale Capital Group

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.