Bridges Investment Management Inc. Increases Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• Bridges Investment Management Inc. increased its stake in Kinsale Capital Group, Inc. by 15.4%, owning 5,801 shares valued at approximately $2.8 million as of the latest SEC filing.
• Multiple hedge funds, including GAMMA Investing LLC and SG Americas Securities LLC, have also increased their holdings in Kinsale Capital Group, indicating strong institutional interest in the stock.
• Analysts maintain a consensus rating of "Hold" for Kinsale Capital Group, with an average price target of $506.89, while its recent earnings report showed better-than-expected EPS and revenue growth.

Bridges Investment Management Inc. lifted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 15.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,801 shares of the financial services provider's stock after buying an additional 775 shares during the quarter. Bridges Investment Management Inc.'s holdings in Kinsale Capital Group were worth $2,807,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of KNSL. GAMMA Investing LLC raised its holdings in shares of Kinsale Capital Group by 21.9% during the 1st quarter. GAMMA Investing LLC now owns 635 shares of the financial services provider's stock valued at $309,000 after buying an additional 114 shares during the period. SG Americas Securities LLC raised its holdings in shares of Kinsale Capital Group by 39.2% during the 1st quarter. SG Americas Securities LLC now owns 917 shares of the financial services provider's stock valued at $446,000 after buying an additional 258 shares during the period. Fifth Third Bancorp raised its holdings in shares of Kinsale Capital Group by 19.6% during the 1st quarter. Fifth Third Bancorp now owns 592 shares of the financial services provider's stock valued at $288,000 after buying an additional 97 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Kinsale Capital Group by 26.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,828 shares of the financial services provider's stock valued at $1,377,000 after buying an additional 584 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Kinsale Capital Group by 3.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 36,736 shares of the financial services provider's stock valued at $17,880,000 after buying an additional 1,374 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on KNSL. Morgan Stanley dropped their target price on Kinsale Capital Group from $525.00 to $500.00 and set an "overweight" rating on the stock in a report on Tuesday, October 7th. Weiss Ratings restated a "buy (b-)" rating on shares of Kinsale Capital Group in a report on Wednesday, October 8th. Bank of America began coverage on Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 price objective on the stock. Compass Point lifted their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Kinsale Capital Group has a consensus rating of "Hold" and an average price target of $506.89.

Kinsale Capital Group Price Performance

KNSL stock opened at $438.91 on Friday. The company has a market capitalization of $10.23 billion, a PE ratio of 22.90, a P/E/G ratio of 1.71 and a beta of 1.09. The stock's 50 day moving average is $446.67 and its two-hundred day moving average is $460.24. 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, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, topping the consensus estimate of $4.41 by $0.37. The company had revenue of $458.70 million during the quarter, compared to analyst estimates of $436.25 million. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The business's revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.75 EPS. Analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were given a $0.17 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.55%.

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.

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