Federated Hermes Inc. Raises Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Federated Hermes Inc. increased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 31.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,008 shares of the financial services provider’s stock after purchasing an additional 2,633 shares during the quarter. Federated Hermes Inc.’s holdings in Kinsale Capital Group were worth $5,120,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Kinsale Capital Group by 5.9% during the 3rd 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 in the last quarter. California Public Employees Retirement System grew its holdings in Kinsale Capital Group by 11.8% during the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider’s stock worth $18,299,000 after acquiring an additional 4,146 shares in the last quarter. LPL Financial LLC increased its position in Kinsale Capital Group by 29.4% during the 4th quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider’s stock valued at $9,310,000 after purchasing an additional 4,644 shares during the period. Empowered Funds LLC purchased a new stake in shares of Kinsale Capital Group in the 4th quarter worth approximately $1,071,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Kinsale Capital Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider’s stock valued at $70,907,000 after purchasing an additional 3,970 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Kinsale Capital Group Stock Up 0.7 %

KNSL stock opened at $481.79 on Friday. The firm has a 50 day moving average of $459.17 and a 200 day moving average of $462.17. The stock has a market capitalization of $11.21 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $531.79. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.39. The firm had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. Sell-side analysts forecast 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. Stockholders of record on Thursday, February 27th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Thursday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is 3.82%.

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.