Pictet Asset Management Holding SA Buys 132 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Pictet Asset Management Holding SA increased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,017 shares of the financial services provider’s stock after acquiring an additional 132 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Kinsale Capital Group were worth $1,403,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its position in 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 during the period. Empowered Funds LLC acquired a new stake in Kinsale Capital Group in the 4th quarter worth about $1,071,000. Charles Schwab Investment Management Inc. boosted its holdings in Kinsale Capital Group by 2.7% in the 4th 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 during the period. Argent Capital Management LLC acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $1,736,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $459.89 on Friday. Kinsale Capital Group, Inc. has a one year low of $355.12 and a one year high of $531.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.66 and a beta of 1.16. The firm has a 50 day simple moving average of $457.25 and a 200 day simple moving average of $461.93.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. The company 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%. Research analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Wall Street Analyst Weigh In

KNSL has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Morgan Stanley decreased their price target 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. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Truist Financial raised their target price 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, JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $468.56.

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.