Kinsale Capital Group, Inc. $KNSL Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC reduced its stake in Kinsale Capital Group by 10.1% in Q2, owning 261,471 shares worth approximately $126.5 million at the end of the period.
• Several institutional investors increased their holdings, including Key Financial Inc, which grew its stake by 315.4% during the first quarter.
• Kinsale Capital Group reported earnings per share of $4.78 in its last quarterly report, exceeding analyst expectations and representing a year-over-year revenue increase of 22.2%.

Riverbridge Partners LLC decreased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 261,471 shares of the financial services provider's stock after selling 29,345 shares during the quarter. Kinsale Capital Group accounts for approximately 2.0% of Riverbridge Partners LLC's portfolio, making the stock its 12th largest holding. Riverbridge Partners LLC owned 1.12% of Kinsale Capital Group worth $126,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KNSL. Key Financial Inc grew its stake in shares of Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after purchasing an additional 41 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Kinsale Capital Group in the 1st quarter valued at $31,000. NBC Securities Inc. acquired a new stake in Kinsale Capital Group in the 1st quarter valued at $35,000. von Borstel & Associates Inc. acquired a new stake in Kinsale Capital Group in the 1st quarter valued at $42,000. Finally, Toth Financial Advisory Corp grew its stake in Kinsale Capital Group by 90.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 95 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 85.36% of the company's stock.

Wall Street Analysts Forecast Growth

KNSL has been the topic of a number of research analyst reports. Compass Point lifted their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Truist Financial lifted their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets lifted their price target on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. Finally, Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Kinsale Capital Group has an average rating of "Hold" and an average price target of $505.80.

Kinsale Capital Group Trading Up 0.0%

Shares of KNSL stock opened at $428.11 on Thursday. Kinsale Capital Group, Inc. has a fifty-two week low of $405.00 and a fifty-two week high of $531.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The stock's fifty day moving average is $449.93 and its two-hundred day moving average is $461.80. The firm has a market capitalization of $9.97 billion, a P/E ratio of 22.33, a PEG ratio of 1.57 and a beta of 1.13.

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

Kinsale Capital Group Announces Dividend

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