Bridgewater Associates LP Decreases Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bridgewater Associates LP lowered its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 37.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,243 shares of the financial services provider’s stock after selling 3,132 shares during the quarter. Bridgewater Associates LP’s holdings in Kinsale Capital Group were worth $2,441,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. ORG Wealth Partners LLC purchased a new position in shares of Kinsale Capital Group in the 3rd quarter worth $26,000. UMB Bank n.a. boosted its position in Kinsale Capital Group by 408.3% in the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 49 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Kinsale Capital Group by 113.6% during the 2nd quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 50 shares during the period. Signaturefd LLC increased its position in shares of Kinsale Capital Group by 68.9% during the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 42 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Kinsale Capital Group by 225.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 79 shares during the period. Institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Royal Bank of Canada cut their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a report on Monday, October 28th. Jefferies Financial Group boosted their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Truist Financial decreased their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $456.88.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock opened at $508.44 on Friday. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.19 and a beta of 1.09. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $466.06 and its 200-day simple moving average is $437.02. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The company had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. During the same quarter last year, the company earned $3.31 EPS. The firm’s quarterly revenue was up 33.0% on a year-over-year basis. As a group, analysts expect that Kinsale Capital Group, Inc. will post 15.67 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

Insider Buying and Selling

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of Kinsale Capital Group stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $499.31, for a total value of $2,216,936.40. Following the sale, the director now directly owns 447 shares of the company’s stock, valued at approximately $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is owned by company insiders.

About Kinsale Capital Group

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.