Riverbridge Partners LLC Sells 15,569 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Riverbridge Partners LLC trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 290,816 shares of the financial services provider's stock after selling 15,569 shares during the quarter. Kinsale Capital Group accounts for approximately 2.3% of Riverbridge Partners LLC's investment portfolio, making the stock its 9th largest holding. Riverbridge Partners LLC owned approximately 1.25% of Kinsale Capital Group worth $141,543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Institute for Wealth Management LLC. bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $413,000. State of Alaska Department of Revenue raised its stake in Kinsale Capital Group by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 2,591 shares of the financial services provider's stock worth $1,261,000 after buying an additional 65 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in Kinsale Capital Group by 9.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 596 shares of the financial services provider's stock worth $290,000 after buying an additional 53 shares in the last quarter. Strategic Advisors LLC raised its stake in Kinsale Capital Group by 0.6% in the first quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider's stock worth $2,568,000 after buying an additional 30 shares in the last quarter. Finally, Precision Wealth Strategies LLC bought a new position in shares of Kinsale Capital Group in the 1st quarter worth $338,000. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Performance

Shares of KNSL stock traded up $14.81 during mid-day trading on Friday, reaching $475.68. The stock had a trading volume of 234,876 shares, compared to its average volume of 175,853. Kinsale Capital Group, Inc. has a 1-year low of $366.92 and a 1-year high of $531.79. The business's fifty day moving average is $464.49 and its 200-day moving average is $460.42. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.12. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.80 and a beta of 1.20.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.56. The firm had revenue of $423.40 million for the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a net margin of 24.73% and a return on equity of 26.36%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 earnings per share. On average, research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America initiated coverage on shares of Kinsale Capital Group in a report on Friday. They issued a "buy" rating and a $543.00 target price for the company. 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 note on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Morgan Stanley upped their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the company 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 given a buy rating to the company's stock. According to data from MarketBeat.com, Kinsale Capital Group has an average rating of "Hold" and a consensus target price of $491.88.

Insider Activity at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value of $659,856.00. Following the transaction, the executive vice president now directly owns 6,646 shares of the company's stock, valued at approximately $3,136,912. This trade represents a 17.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is owned by corporate insiders.

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.