Riverbridge Partners LLC Trims Holdings in Kinsale Capital Group, Inc. $KNSL

Riverbridge Partners LLC decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 7.6% in the fourth quarter, HoldingsChannel reports. The firm owned 268,453 shares of the financial services provider’s stock after selling 22,071 shares during the quarter. Kinsale Capital Group makes up 2.0% of Riverbridge Partners LLC’s investment portfolio, making the stock its 12th biggest position. Riverbridge Partners LLC’s holdings in Kinsale Capital Group were worth $104,997,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Kinsale Capital Group during the second quarter valued at approximately $125,812,000. Orion Porfolio Solutions LLC raised its holdings in shares of Kinsale Capital Group by 1,141.4% during the second quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock valued at $39,546,000 after acquiring an additional 75,141 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in Kinsale Capital Group in the second quarter worth $32,034,000. Tudor Investment Corp ET AL lifted its stake in Kinsale Capital Group by 7,444.2% in the third quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock worth $16,041,000 after acquiring an additional 37,221 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Kinsale Capital Group by 15.1% in the third quarter. Dimensional Fund Advisors LP now owns 273,724 shares of the financial services provider’s stock valued at $116,390,000 after acquiring an additional 35,864 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KNSL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. JPMorgan Chase & Co. cut their target price on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. BMO Capital Markets cut shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research report on Wednesday, February 25th. Morgan Stanley reissued an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Finally, Cantor Fitzgerald lowered their price objective on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $430.91.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $334.87 on Friday. Kinsale Capital Group, Inc. has a fifty-two week low of $321.97 and a fifty-two week high of $512.76. The company has a 50 day simple moving average of $378.44 and a two-hundred day simple moving average of $398.82. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 1.07 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 0.08.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, topping analysts’ consensus estimates of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to analysts’ expectations of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same period in the previous year, the firm posted $4.62 EPS. Analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group announced that its board has approved a stock buyback program on Thursday, December 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a dividend of $0.25 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is 4.61%.

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.