Bridges Investment Management Inc. Invests $642,000 in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bridges Investment Management Inc. purchased a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,667 shares of the financial services provider’s stock, valued at approximately $642,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Kinsale Capital Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,090,492 shares of the financial services provider’s stock valued at $700,127,000 after buying an additional 30,729 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Kinsale Capital Group by 14.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock valued at $164,291,000 after buying an additional 52,218 shares in the last quarter. DAVENPORT & Co LLC grew its position in Kinsale Capital Group by 0.4% in the 1st quarter. DAVENPORT & Co LLC now owns 327,664 shares of the financial services provider’s stock valued at $173,095,000 after buying an additional 1,286 shares in the last quarter. Riverbridge Partners LLC grew its position in Kinsale Capital Group by 25.4% in the 1st quarter. Riverbridge Partners LLC now owns 311,664 shares of the financial services provider’s stock valued at $163,543,000 after buying an additional 63,141 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Kinsale Capital Group by 5.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 291,339 shares of the financial services provider’s stock valued at $97,572,000 after buying an additional 15,718 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

KNSL stock opened at $450.64 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.15. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47. The firm has a market capitalization of $10.49 billion, a PE ratio of 29.94, a P/E/G ratio of 1.98 and a beta of 1.08. The firm has a 50-day moving average of $452.13 and a two-hundred day moving average of $434.84.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The company had revenue of $384.55 million during the quarter, compared to analyst estimates of $410.20 million. During the same period in the prior year, the firm earned $2.88 earnings per share. The business’s quarterly revenue was up 30.0% on a year-over-year basis. On average, analysts forecast that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Analyst Ratings Changes

KNSL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Royal Bank of Canada increased their target price on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Truist Financial raised their price objective on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Wolfe Research lowered shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 16th. Finally, Oppenheimer began coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $432.29.

Kinsale Capital Group 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.