Riverbridge Partners LLC Sells 22,071 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Riverbridge Partners cut its stake in Kinsale Capital Group by 7.6% in Q4, selling 22,071 shares and ending the quarter with 268,453 shares (about 1.15% of the company and its 12th-largest holding); other large investors, including Norges Bank, also initiated or expanded positions.
• Kinsale beat expectations in the latest quarter with EPS of $5.81 and revenue of $483.27M, and the company recently raised its quarterly dividend to $0.25 and authorized a $250 million share buyback program.
• The stock trades at a market cap of $7.75 billion with a P/E of 15.45 and a 52-week range of $321.97–$512.76, while analysts carry a consensus "Hold" rating and an average price target of $430.91.

Riverbridge Partners LLC cut its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,453 shares of the financial services provider's stock after selling 22,071 shares during the quarter. Kinsale Capital Group comprises 2.0% of Riverbridge Partners LLC's investment portfolio, making the stock its 12th biggest position. Riverbridge Partners LLC owned about 1.15% of Kinsale Capital Group worth $104,997,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Kinsale Capital Group in the second quarter worth $125,812,000. Orion Porfolio Solutions LLC boosted its stake in Kinsale Capital Group by 1,141.4% during the second quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider's stock valued at $39,546,000 after buying an additional 75,141 shares during the period. Ceredex Value Advisors LLC purchased a new position in Kinsale Capital Group during the second quarter worth about $32,034,000. Tudor Investment Corp ET AL grew its position in Kinsale Capital Group by 7,444.2% during the third quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider's stock worth $16,041,000 after buying an additional 37,221 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Kinsale Capital Group by 15.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 273,724 shares of the financial services provider's stock worth $116,390,000 after acquiring an additional 35,864 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $334.87 on Friday. The company has a market capitalization of $7.75 billion, a P/E ratio of 15.45, a PEG ratio of 1.07 and a beta of 1.01. Kinsale Capital Group, Inc. has a fifty-two week low of $321.97 and a fifty-two week high of $512.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a 50 day moving average price of $378.44 and a two-hundred day moving average price of $398.82.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, topping the consensus estimate of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The company had revenue of $483.27 million for the quarter, compared to the consensus estimate of $467.66 million. During the same period in the previous year, the firm earned $4.62 earnings per share. Analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were given a $0.25 dividend. The ex-dividend date was Thursday, February 26th. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.17. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio is presently 4.61%.

Kinsale Capital Group announced that its board has authorized a share buyback program on Thursday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wall Street Zen cut Kinsale Capital Group from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Cantor Fitzgerald cut their price objective on Kinsale Capital Group from $422.00 to $360.00 and set a "neutral" rating for the company in a report on Tuesday, February 17th. BMO Capital Markets cut shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price objective on the stock. in a research report on Wednesday, February 25th. Morgan Stanley reaffirmed an "overweight" rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $430.91.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

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