Oppenheimer Asset Management Inc. Increases Stock Position in Kinsale Capital Group, Inc. $KNSL

Oppenheimer Asset Management Inc. grew its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 17.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,501 shares of the financial services provider’s stock after buying an additional 3,305 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.10% of Kinsale Capital Group worth $9,569,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Kinsale Capital Group by 76.2% during the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 361 shares during the last quarter. Vontobel Holding Ltd. bought a new position in Kinsale Capital Group in the second quarter valued at $243,000. Callan Family Office LLC purchased a new stake in Kinsale Capital Group during the second quarter valued at about $530,000. Vanguard Personalized Indexing Management LLC lifted its stake in Kinsale Capital Group by 7.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,684 shares of the financial services provider’s stock worth $1,300,000 after purchasing an additional 190 shares during the last quarter. Finally, CWM LLC lifted its stake in Kinsale Capital Group by 37.6% during the second quarter. CWM LLC now owns 494 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $390.43 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a fifty-two week low of $349.00 and a fifty-two week high of $512.76. The firm has a market cap of $9.08 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The business has a 50 day moving average price of $392.44 and a 200-day moving average price of $417.71.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be issued a $0.25 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s payout ratio is 3.34%.

Kinsale Capital Group announced that its board has authorized a share buyback program on Thursday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

KNSL has been the topic of several recent research reports. Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a research report on Tuesday, December 16th. Wells Fargo & Company initiated coverage on Kinsale Capital Group in a research note on Thursday, January 15th. They issued an “overweight” rating and a $490.00 target price for the company. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $476.60.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.