Kornitzer Capital Management Inc. KS Has $9.96 Million Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Kornitzer Capital Management Inc. KS grew its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 83.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,730 shares of the financial services provider’s stock after purchasing an additional 13,530 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Kinsale Capital Group were worth $9,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Kinsale Capital Group during the second quarter valued at about $28,000. Anchor Investment Management LLC acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $25,000. Emerald Advisers LLC bought a new position in shares of Kinsale Capital Group in the 3rd quarter worth $33,000. Beacon Capital Management LLC acquired a new stake in Kinsale Capital Group in the 4th quarter valued at $33,000. Finally, IFP Advisors Inc increased its stake in Kinsale Capital Group by 127.3% during the 2nd quarter. IFP Advisors Inc now owns 100 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares of the company’s stock, valued at $159,199,255.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now owns 887 shares of the company’s stock, valued at approximately $464,867.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now directly owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a report on Monday, February 26th. BMO Capital Markets downgraded Kinsale Capital Group from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $434.00 to $544.00 in a report on Wednesday, February 28th. Finally, Royal Bank of Canada increased their price target on Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $510.00.

Kinsale Capital Group Stock Performance

Shares of KNSL traded down $0.11 on Friday, reaching $451.81. 142,359 shares of the company’s stock traded hands, compared to its average volume of 164,978. The stock’s 50 day simple moving average is $491.30 and its two-hundred day simple moving average is $415.30. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17. Kinsale Capital Group, Inc. has a 52-week low of $297.33 and a 52-week high of $548.47. The stock has a market cap of $10.48 billion, a PE ratio of 34.20 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Friday, February 16th. The financial services provider reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.43. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The firm had revenue of $351.17 million for the quarter, compared to analysts’ expectations of $367.98 million. During the same period in the previous year, the company earned $2.60 earnings per share. The company’s quarterly revenue was up 41.5% on a year-over-year basis. On average, analysts forecast that Kinsale Capital Group, Inc. will post 15.26 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.13%. Kinsale Capital Group’s dividend payout ratio is 4.54%.

Kinsale Capital Group Company Profile

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.