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

Bridges Investment Management Inc. cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 29.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KNSL. Isthmus Partners LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth about $8,110,000. JPMorgan Chase & Co. increased its position in shares of Kinsale Capital Group by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock worth $191,386,000 after purchasing an additional 25,428 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Kinsale Capital Group by 17.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider’s stock worth $9,569,000 after purchasing an additional 3,305 shares during the last quarter. Leibman Financial Services Inc. increased its position in shares of Kinsale Capital Group by 109.9% during the 4th quarter. Leibman Financial Services Inc. now owns 9,438 shares of the financial services provider’s stock worth $3,691,000 after purchasing an additional 4,942 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its position in shares of Kinsale Capital Group by 7,444.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock worth $16,041,000 after purchasing an additional 37,221 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Down 1.6%

KNSL opened at $290.67 on Thursday. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $512.76. The business’s 50 day moving average is $328.00 and its two-hundred day moving average is $364.45. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.71 earnings per share. On average, research analysts predict that Kinsale Capital Group, Inc. will post 20.54 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s payout ratio is 4.40%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts recently commented on KNSL shares. BMO Capital Markets cut Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 target price for the company. in a report on Wednesday, February 25th. Wells Fargo & Company cut Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $420.00 to $357.00 in a report on Monday, April 27th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. JPMorgan Chase & Co. lowered their target price on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Finally, Morgan Stanley lowered their target price on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.