Kinsale Capital Group, Inc. (KNSL) to Issue Quarterly Dividend of $0.15 on December 13th

Kinsale Capital Group, Inc. (NYSE:KNSL) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders 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 dividend 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% per year over the last three years. Kinsale Capital Group has a payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

KNSL stock opened at $512.04 on Wednesday. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.15 and a beta of 1.09. The firm has a 50-day simple moving average of $462.44 and a two-hundred day simple moving average of $434.56. Kinsale Capital Group has a one year low of $325.01 and a one year high of $548.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

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

Analyst Ratings Changes

KNSL has been the topic of several research analyst reports. Truist Financial dropped their target price 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. Royal Bank of Canada lowered their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. BMO Capital Markets upped their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a research note 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $456.88.

Insider Activity

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction on Friday, November 22nd. The shares were 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 of the company’s stock, valued at approximately $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

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.