Synergy Financial Group LTD Boosts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Synergy Financial Group LTD raised its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,448 shares of the financial services provider’s stock after acquiring an additional 95 shares during the period. Kinsale Capital Group makes up about 1.1% of Synergy Financial Group LTD’s investment portfolio, making the stock its 18th largest position. Synergy Financial Group LTD’s holdings in Kinsale Capital Group were worth $1,140,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Kinsale Capital Group by 5.9% in the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock worth $246,810,000 after buying an additional 29,686 shares during the period. Barclays PLC grew its position in Kinsale Capital Group by 34.4% in the 3rd quarter. Barclays PLC now owns 11,772 shares of the financial services provider’s stock valued at $5,480,000 after acquiring an additional 3,014 shares during the last quarter. Geller Advisors LLC bought a new position in Kinsale Capital Group in the 3rd quarter valued at $405,000. Nomura Asset Management Co. Ltd. purchased a new stake in Kinsale Capital Group in the third quarter worth $270,000. Finally, DF Dent & Co. Inc. lifted its position in shares of Kinsale Capital Group by 3.0% during the third quarter. DF Dent & Co. Inc. now owns 226,614 shares of the financial services provider’s stock worth $105,505,000 after purchasing an additional 6,679 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of KNSL stock opened at $522.39 on Tuesday. The stock’s 50-day moving average is $472.15 and its 200 day moving average is $442.44. Kinsale Capital Group, Inc. has a 1-year low of $325.01 and a 1-year high of $548.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $12.17 billion, a P/E ratio of 29.78, a PEG ratio of 2.24 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. During the same quarter in the previous year, the firm earned $3.31 EPS. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. Research analysts predict that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.15 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.11%. Kinsale Capital Group’s payout ratio is 3.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial cut their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Morgan Stanley started coverage on Kinsale Capital Group in a report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. BMO Capital Markets upped their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Finally, Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $472.00.

Insider Buying and Selling

In other news, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now directly owns 7,348 shares in the company, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the completion of the transaction, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

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.