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. Investors 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 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Friday, November 29th.

Kinsale Capital Group has increased its dividend by an average of 15.9% annually over the last three years. Kinsale Capital Group has a dividend payout ratio of 3.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kinsale Capital Group to earn $18.17 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

NYSE KNSL traded down $8.61 on Friday, hitting $465.17. 88,745 shares of the company’s stock were exchanged, compared to its average volume of 173,966. The stock has a 50-day moving average of $458.27 and a 200-day moving average of $427.89. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 2.05 and a beta of 1.09. Kinsale Capital Group has a 52 week low of $325.01 and a 52 week high of $548.47. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping 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 firm had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. During the same quarter in the previous year, the firm earned $3.31 earnings per share. The business’s quarterly revenue was up 33.0% on a year-over-year basis. Analysts expect that Kinsale Capital Group will post 15.52 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Truist Financial decreased their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. 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 report on Monday, October 28th. Jefferies Financial Group upped 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. lowered 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, Royal Bank of Canada dropped their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $455.88.

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.