Kinsale Capital Group, Inc. (NYSE:KNSL) to Issue $0.15 Quarterly Dividend

Kinsale Capital Group, Inc. (NYSE:KNSL) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.15 per share by the financial services provider on Friday, December 13th. This represents a $0.60 annualized dividend and a yield of 0.12%. The ex-dividend date is Friday, November 29th.

Kinsale Capital Group has increased its dividend payment by an average of 15.9% annually over the last three years. Kinsale Capital Group has a dividend payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kinsale Capital Group to earn $18.28 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 3.3%.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $515.45 on Thursday. The company has a market capitalization of $12.00 billion, a PE ratio of 29.39, a PEG ratio of 2.15 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 moving average price is $463.68 and its 200-day moving average price is $435.13. Kinsale Capital Group has a twelve month low of $325.01 and a twelve month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The business had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. Kinsale Capital Group’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period last year, the company posted $3.31 earnings per share. On average, equities analysts anticipate that Kinsale Capital Group will post 15.67 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

KNSL has been the topic of a number of research analyst reports. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a report on Monday, October 28th. Truist Financial dropped their target price on shares of 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. BMO Capital Markets raised their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada reduced their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $456.88.

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.