Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 486.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 214,045 shares of the financial services provider’s stock after buying an additional 177,540 shares during the quarter. Alliancebernstein L.P.’s holdings in Kinsale Capital Group were worth $99,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Kinsale Capital Group during the 4th quarter worth $25,000. Bank of Jackson Hole Trust bought a new position in shares of Kinsale Capital Group during the fourth quarter worth about $31,000. Larson Financial Group LLC grew its stake in Kinsale Capital Group by 7,400.0% in the fourth quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Allworth Financial LP increased its holdings in Kinsale Capital Group by 450.0% in the fourth quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after buying an additional 72 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Kinsale Capital Group during the fourth quarter valued at approximately $46,000. Institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Morgan Stanley decreased their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Truist Financial lifted their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $491.46 on Thursday. The firm’s 50 day moving average is $455.40 and its two-hundred day moving average is $461.59. The firm has a market capitalization of $11.44 billion, a P/E ratio of 27.63, a PEG ratio of 1.66 and a beta of 1.25. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The firm had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a $0.17 dividend. The ex-dividend date was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.14%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio is presently 3.82%.

Kinsale Capital Group 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.