Kinsale Capital Group, Inc. $KNSL Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 8.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 246,236 shares of the financial services provider’s stock after selling 22,217 shares during the period. Kinsale Capital Group comprises 2.1% of Riverbridge Partners LLC’s investment portfolio, making the stock its 13th biggest position. Riverbridge Partners LLC owned approximately 1.06% of Kinsale Capital Group worth $84,129,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Diversified Trust Co increased its stake in shares of Kinsale Capital Group by 1.9% in the 1st quarter. Diversified Trust Co now owns 5,241 shares of the financial services provider’s stock valued at $1,791,000 after purchasing an additional 96 shares in the last quarter. World Investment Advisors boosted its position in Kinsale Capital Group by 47.9% during the fourth quarter. World Investment Advisors now owns 1,028 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 333 shares in the last quarter. Montanaro Asset Management Ltd purchased a new position in Kinsale Capital Group during the fourth quarter worth approximately $1,095,000. Bayban acquired a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $25,000. Finally, Virtu Financial LLC grew its holdings in Kinsale Capital Group by 175.2% in the fourth quarter. Virtu Financial LLC now owns 3,118 shares of the financial services provider’s stock valued at $1,219,000 after purchasing an additional 1,985 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 3.3%

KNSL opened at $304.82 on Wednesday. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. The company’s 50 day simple moving average is $317.98 and its two-hundred day simple moving average is $356.99. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $512.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The business had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. During the same period in the prior year, the business earned $3.71 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Analysts expect that Kinsale Capital Group, Inc. will post 20.65 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is presently 4.40%.

Insiders Place Their Bets

In other news, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Christopher R. Tangard acquired 330 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average cost of $304.00 per share, with a total value of $100,320.00. Following the acquisition, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. This trade represents a 660.00% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

KNSL has been the subject of several research analyst reports. Weiss Ratings downgraded Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Cantor Fitzgerald dropped their price target on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Truist Financial cut their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Wells Fargo & Company cut shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $420.00 to $357.00 in a research report on Monday, April 27th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $374.90.

About Kinsale Capital Group

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.