Allianz Asset Management GmbH acquired a new position in shares of Kinsale Capital Group Inc (NASDAQ:KNSL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 256,172 shares of the financial services provider’s stock, valued at approximately $11,527,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. OppenheimerFunds Inc. raised its position in shares of Kinsale Capital Group by 3.6% during the fourth quarter. OppenheimerFunds Inc. now owns 344,381 shares of the financial services provider’s stock worth $15,498,000 after acquiring an additional 12,122 shares during the last quarter. Suntrust Banks Inc. bought a new position in shares of Kinsale Capital Group during the fourth quarter worth about $254,000. BlackRock Inc. raised its position in shares of Kinsale Capital Group by 3.3% during the fourth quarter. BlackRock Inc. now owns 978,846 shares of the financial services provider’s stock worth $44,048,000 after acquiring an additional 31,455 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Kinsale Capital Group by 8.4% during the fourth quarter. Bank of New York Mellon Corp now owns 99,677 shares of the financial services provider’s stock worth $4,486,000 after acquiring an additional 7,757 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Kinsale Capital Group during the fourth quarter worth about $313,000. Institutional investors own 82.85% of the company’s stock.
A number of brokerages have weighed in on KNSL. BidaskClub upgraded Kinsale Capital Group from a “buy” rating to a “strong-buy” rating in a report on Thursday. William Blair reiterated a “hold” rating on shares of Kinsale Capital Group in a report on Friday, February 2nd. Finally, Zacks Investment Research downgraded Kinsale Capital Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $48.67.
Shares of Kinsale Capital Group Inc (NASDAQ:KNSL) opened at $52.96 on Monday. The firm has a market capitalization of $1,114.65, a P/E ratio of 45.66 and a beta of 0.11. Kinsale Capital Group Inc has a 1-year low of $30.36 and a 1-year high of $53.24.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a $0.07 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Tuesday, February 27th. Kinsale Capital Group’s payout ratio is presently 24.14%.
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Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.
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