Kinsale Capital Group, Inc. $KNSL Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 29.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,365 shares of the financial services provider’s stock after selling 1,798 shares during the quarter. Bridges Investment Management Inc.’s holdings in Kinsale Capital Group were worth $1,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Isthmus Partners LLC acquired a new stake in Kinsale Capital Group during the fourth quarter worth about $8,110,000. JPMorgan Chase & Co. boosted its position in shares of Kinsale Capital Group by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock worth $191,386,000 after buying an additional 25,428 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Kinsale Capital Group by 17.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider’s stock worth $9,569,000 after buying an additional 3,305 shares during the period. Leibman Financial Services Inc. boosted its position in shares of Kinsale Capital Group by 109.9% in the fourth quarter. Leibman Financial Services Inc. now owns 9,438 shares of the financial services provider’s stock worth $3,691,000 after buying an additional 4,942 shares during the period. Finally, Tudor Investment Corp ET AL boosted its position in shares of 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 buying an additional 37,221 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider directly owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.60% of the stock is currently owned by company insiders.

Kinsale Capital Group Trading Down 1.6%

NYSE:KNSL opened at $290.67 on Thursday. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $512.76. The firm has a market capitalization of $6.70 billion, a P/E ratio of 12.79, a P/E/G ratio of 0.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The business has a 50 day simple moving average of $328.00 and a 200 day simple moving average of $364.45.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $466.71 million for the quarter, compared to analysts’ expectations of $410.25 million. During the same period last year, the firm earned $3.71 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts predict that Kinsale Capital Group, Inc. will post 20.54 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.40%.

Analysts Set New Price Targets

KNSL has been the subject of several analyst reports. Weiss Ratings downgraded Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Cantor Fitzgerald decreased their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Royal Bank Of Canada decreased their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 target price for the company. in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company downgraded Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $420.00 to $357.00 in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $390.18.

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.