Bridges Investment Management Inc. Grows Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bridges Investment Management Inc. boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 111.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,026 shares of the financial services provider's stock after acquiring an additional 2,650 shares during the period. Bridges Investment Management Inc.'s holdings in Kinsale Capital Group were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of KNSL. Greenleaf Trust acquired a new position in shares of Kinsale Capital Group during the first quarter worth $2,166,000. M&T Bank Corp grew its position in shares of Kinsale Capital Group by 43.4% during the first quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock worth $1,787,000 after acquiring an additional 1,111 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Kinsale Capital Group by 5.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 173,778 shares of the financial services provider's stock valued at $84,580,000 after buying an additional 8,372 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Kinsale Capital Group in the 1st quarter valued at about $42,000. Finally, OneDigital Investment Advisors LLC grew its position in Kinsale Capital Group by 42.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 821 shares of the financial services provider's stock valued at $400,000 after buying an additional 243 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on KNSL shares. Truist Financial reduced their price objective on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Bank of America assumed coverage on Kinsale Capital Group in a report on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Morgan Stanley raised their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $491.88.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the transaction, the executive vice president owned 6,646 shares of the company's stock, valued at approximately $3,136,912. This represents a 17.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.50% of the company's stock.

Kinsale Capital Group Stock Down 0.4%

Kinsale Capital Group stock traded down $1.99 during mid-day trading on Friday, reaching $487.17. The stock had a trading volume of 76,948 shares, compared to its average volume of 180,577. Kinsale Capital Group, Inc. has a fifty-two week low of $366.92 and a fifty-two week high of $531.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.11 and a current ratio of 0.11. The stock's 50-day simple moving average is $468.15 and its 200-day simple moving average is $459.40. The firm has a market capitalization of $11.36 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The firm had revenue of $423.40 million for the quarter, compared to analyst estimates of $425.73 million. During the same period in the previous year, the company posted $3.50 earnings per share. The business's revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a dividend of $0.17 per share. This represents a yield of 0.15%. The ex-dividend date was Thursday, May 29th. Kinsale Capital Group's payout ratio is 3.91%.

Kinsale Capital Group Company 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.