Kinsale Capital Group, Inc. $KNSL Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 450,044 shares of the financial services provider’s stock after buying an additional 25,428 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kinsale Capital Group were worth $191,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bamco Inc. NY raised its position in Kinsale Capital Group by 1.4% in the 2nd quarter. Bamco Inc. NY now owns 1,763,794 shares of the financial services provider’s stock valued at $853,500,000 after purchasing an additional 24,936 shares during the last quarter. Geode Capital Management LLC increased its stake in Kinsale Capital Group by 2.1% in the second quarter. Geode Capital Management LLC now owns 593,914 shares of the financial services provider’s stock valued at $288,657,000 after purchasing an additional 12,040 shares during the period. Riverbridge Partners LLC raised its holdings in shares of Kinsale Capital Group by 11.1% in the third quarter. Riverbridge Partners LLC now owns 290,524 shares of the financial services provider’s stock valued at $123,548,000 after buying an additional 29,053 shares during the last quarter. Norges Bank purchased a new stake in shares of Kinsale Capital Group in the second quarter valued at about $125,812,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Kinsale Capital Group by 3.2% during the second quarter. Alliancebernstein L.P. now owns 193,885 shares of the financial services provider’s stock worth $93,821,000 after buying an additional 5,997 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $373.66 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $394.47 and its two-hundred day moving average is $413.85. Kinsale Capital Group, Inc. has a 12-month low of $341.06 and a 12-month high of $512.76. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.54 and a beta of 0.99.

Kinsale Capital Group (NYSE:KNSL) last posted 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. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.The business had revenue of $483.27 million during the quarter, compared to analysts’ expectations of $467.66 million. During the same period last year, the firm earned $4.62 EPS. Research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

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

Kinsale Capital Group Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 0.3%. This is an increase 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 3.14%.

Analyst Ratings Changes

KNSL has been the topic of several recent research reports. Jefferies Financial Group restated a “hold” rating and issued a $433.00 price target on shares of Kinsale Capital Group in a research report on Friday, February 13th. BMO Capital Markets reiterated a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday. JPMorgan Chase & Co. dropped their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Truist Financial cut their price target on Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, TD Cowen lowered their price objective on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $457.00.

Kinsale Capital Group Company 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.