Strategic Advisors LLC Increases Stake in Kinsale Capital Group, Inc. $KNSL

Strategic Advisors LLC raised its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 61.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,515 shares of the financial services provider’s stock after acquiring an additional 3,247 shares during the quarter. Strategic Advisors LLC’s holdings in Kinsale Capital Group were worth $3,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of KNSL. V Square Quantitative Management LLC purchased a new position in Kinsale Capital Group in the 2nd quarter valued at approximately $31,000. Root Financial Partners LLC purchased a new position in shares of Kinsale Capital Group in the third quarter valued at $33,000. Darwin Wealth Management LLC bought a new stake in shares of Kinsale Capital Group during the 2nd quarter valued at $38,000. VSM Wealth Advisory LLC purchased a new stake in Kinsale Capital Group during the 2nd quarter worth about $39,000. Finally, Eastern Bank bought a new position in Kinsale Capital Group in the 3rd quarter worth about $43,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $389.96 on Thursday. The company has a 50-day simple moving average of $389.38 and a two-hundred day simple moving average of $422.72. Kinsale Capital Group, Inc. has a 12-month low of $349.00 and a 12-month high of $512.76. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.36 and a beta of 1.00. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 28th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, November 28th. Kinsale Capital Group’s dividend payout ratio is currently 3.34%.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada started coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Kinsale Capital Group in a report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 price target for the company. Cantor Fitzgerald dropped their price objective on Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. JPMorgan Chase & Co. dropped their price target 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. Finally, 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 report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Kinsale Capital Group has an average rating of “Hold” and an average price target of $476.60.

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.