Bridges Investment Management Inc. Boosts Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bridges Investment Management Inc. raised its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 111.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,026 shares of the financial services provider's stock after purchasing an additional 2,650 shares during the quarter. 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 (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Larson Financial Group LLC boosted its position in Kinsale Capital Group by 7,400.0% during the fourth quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider's stock valued at $35,000 after buying an additional 74 shares during the period. NBC Securities Inc. purchased a new stake in Kinsale Capital Group during the 1st quarter valued at about $35,000. von Borstel & Associates Inc. purchased a new stake in Kinsale Capital Group during the 1st quarter valued at about $42,000. Physician Wealth Advisors Inc. bought a new position in Kinsale Capital Group during the 4th quarter worth approximately $49,000. Finally, Anderson Financial Strategies LLC purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analyst Ratings Changes

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

Kinsale Capital Group Stock Down 1.5%

Shares of KNSL stock traded down $7.48 during mid-day trading on Friday, hitting $481.67. The company's stock had a trading volume of 245,295 shares, compared to its average volume of 181,507. The business has a 50-day moving average price of $468.84 and a 200 day moving average price of $459.31. Kinsale Capital Group, Inc. has a 52-week low of $366.92 and a 52-week high of $531.79. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.11 and a current ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. During the same quarter in the prior year, the company earned $3.50 earnings per share. Kinsale Capital Group's revenue was up 7.9% on a year-over-year basis. Research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 1,398 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 6,646 shares in the company, valued at $3,136,912. This represents a 17.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.50% of the company's stock.

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.