Bridgewater Associates LP Cuts Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bridgewater Associates LP reduced its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 24.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,960 shares of the financial services provider's stock after selling 1,283 shares during the period. Bridgewater Associates LP's holdings in Kinsale Capital Group were worth $1,842,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. LPL Financial LLC grew its position in shares of Kinsale Capital Group by 29.4% during the 4th quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock valued at $9,310,000 after purchasing an additional 4,644 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Kinsale Capital Group by 11.8% during the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider's stock valued at $18,299,000 after purchasing an additional 4,146 shares in the last quarter. Empowered Funds LLC purchased a new position in Kinsale Capital Group in the fourth quarter worth $1,071,000. Charles Schwab Investment Management Inc. grew its position in Kinsale Capital Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider's stock worth $70,907,000 after acquiring an additional 3,970 shares in the last quarter. Finally, Argent Capital Management LLC purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth about $1,736,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

Shares of KNSL traded up $3.17 during trading hours on Thursday, hitting $494.83. The stock had a trading volume of 58,866 shares, compared to its average volume of 174,118. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 12 month low of $355.12 and a 12 month high of $531.79. The firm has a market capitalization of $11.52 billion, a PE ratio of 27.81, a PEG ratio of 1.66 and a beta of 1.16. The stock has a fifty day moving average price of $459.85 and a 200 day moving average price of $463.02.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping analysts' consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The company had revenue of $412.12 million for the quarter, compared to analysts' expectations of $418.32 million. Analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a $0.17 dividend. The ex-dividend date was Thursday, February 27th. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. Kinsale Capital Group's dividend payout ratio (DPR) is 3.82%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KNSL shares. Royal Bank of Canada restated a "sector perform" rating and set a $500.00 target price on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Truist Financial increased their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, Morgan Stanley dropped their price objective on Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $468.56.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.