Brevan Howard Capital Management LP Takes $877,000 Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Brevan Howard Capital Management LP acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,885 shares of the financial services provider’s stock, valued at approximately $877,000.

Several other institutional investors also recently bought and sold shares of the company. Cary Street Partners Financial LLC purchased a new position in Kinsale Capital Group during the 4th quarter valued at about $746,000. Baird Financial Group Inc. increased its holdings in Kinsale Capital Group by 3.6% during the fourth quarter. Baird Financial Group Inc. now owns 153,731 shares of the financial services provider’s stock valued at $71,505,000 after buying an additional 5,396 shares during the period. Benjamin Edwards Inc. raised its stake in Kinsale Capital Group by 7.0% in the fourth quarter. Benjamin Edwards Inc. now owns 961 shares of the financial services provider’s stock worth $447,000 after buying an additional 63 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Kinsale Capital Group by 105.9% during the fourth quarter. Ameriprise Financial Inc. now owns 89,253 shares of the financial services provider’s stock worth $41,509,000 after buying an additional 45,896 shares during the period. Finally, Algert Global LLC lifted its holdings in Kinsale Capital Group by 33.9% during the fourth quarter. Algert Global LLC now owns 15,537 shares of the financial services provider’s stock worth $7,227,000 after buying an additional 3,936 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Trading Down 0.5 %

NYSE KNSL opened at $457.78 on Friday. Kinsale Capital Group, Inc. has a 12-month low of $366.92 and a 12-month high of $531.79. The company has a fifty day simple moving average of $463.09 and a two-hundred day simple moving average of $461.48. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market cap of $10.67 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.66 and a beta of 1.29.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.56. The company had revenue of $423.40 million during the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $3.50 EPS. On average, analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a $0.17 dividend. The ex-dividend date was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio is currently 3.91%.

Analyst Upgrades and Downgrades

KNSL has been the subject of several recent research reports. Morgan Stanley reduced their price target on Kinsale Capital Group from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Truist Financial lowered their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, April 28th. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $470.00.

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.