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

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 paid 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 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. Equities 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

Kinsale Capital Group stock opened at $512.04 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The company’s fifty day moving average price is $462.44 and its 200 day moving average price is $434.56. The stock has a market capitalization of $11.93 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.15 and a beta of 1.09. Kinsale Capital Group has a 1 year low of $325.01 and a 1 year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last released its 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 during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $3.31 earnings per share. As a group, equities research analysts anticipate that Kinsale Capital Group will post 15.67 earnings per share for the current fiscal year.

Insider Activity

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’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 completion of the sale, the director now owns 447 shares of the company’s stock, valued at $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Jefferies Financial Group increased their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research note on Monday, October 28th. Truist Financial reduced their target price on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, BMO Capital Markets boosted 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 report on Thursday, November 21st. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and an average target price of $456.88.

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.