Riverbridge Partners LLC Trims Stock Position in Kinsale Capital Group, Inc. $KNSL

Riverbridge Partners LLC cut its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 246,236 shares of the financial services provider’s stock after selling 22,217 shares during the period. Kinsale Capital Group accounts for about 2.1% of Riverbridge Partners LLC’s portfolio, making the stock its 13th largest holding. Riverbridge Partners LLC’s holdings in Kinsale Capital Group were worth $84,129,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Kinsale Capital Group by 76.2% during the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the period. Brown Advisory Inc. grew its holdings in shares of Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 82 shares during the period. Jump Financial LLC increased its position in shares of Kinsale Capital Group by 136.9% during the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 634 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Kinsale Capital Group by 45.3% during the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock worth $2,430,000 after purchasing an additional 1,566 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher R. Tangard bought 330 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were purchased at an average cost of $304.00 per share, with a total value of $100,320.00. Following the purchase, the chief accounting officer directly owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the sale, the insider owned 3,645 shares in the company, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $304.82 on Wednesday. The business has a 50-day moving average of $317.98 and a 200 day moving average of $356.99. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $512.76. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. The company had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.Kinsale Capital Group’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.71 EPS. As a group, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 20.65 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a $0.25 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s payout ratio is 4.40%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Royal Bank Of Canada dropped their price target on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. BMO Capital Markets downgraded shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company lowered shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $420.00 to $357.00 in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $374.90.

Kinsale Capital Group 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.