Envestnet Portfolio Solutions Inc. Increases Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Envestnet Portfolio Solutions Inc. increased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,250 shares of the financial services provider’s stock after purchasing an additional 38 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Kinsale Capital Group were worth $1,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ballentine Partners LLC boosted its position in shares of Kinsale Capital Group by 4.6% during the 4th quarter. Ballentine Partners LLC now owns 573 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 25 shares during the period. Caprock Group LLC lifted its stake in Kinsale Capital Group by 1.7% during the 4th quarter. Caprock Group LLC now owns 1,653 shares of the financial services provider’s stock worth $769,000 after acquiring an additional 28 shares in the last quarter. Fielder Capital Group LLC boosted its holdings in Kinsale Capital Group by 5.5% during the 4th quarter. Fielder Capital Group LLC now owns 595 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 31 shares during the period. CIBC Asset Management Inc increased its stake in Kinsale Capital Group by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 716 shares of the financial services provider’s stock worth $333,000 after buying an additional 36 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of Kinsale Capital Group by 5.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 763 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 37 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $471.37 on Friday. 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 12-month low of $355.12 and a 12-month high of $536.84. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. The stock has a 50 day simple moving average of $447.17 and a 200-day simple moving average of $460.46.

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

Kinsale Capital Group Increases Dividend

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

About Kinsale Capital Group

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.