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. Investors 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 0.13%. 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 dividend payout ratio of 3.4% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of NYSE KNSL traded down $8.61 during trading on Friday, reaching $465.17. 88,745 shares of the company traded hands, compared to its average volume of 173,966. The firm has a 50 day simple moving average of $458.27 and a 200-day simple moving average of $427.89. Kinsale Capital Group has a 52-week low of $325.01 and a 52-week high of $548.47. The stock has a market capitalization of $10.83 billion, a PE ratio of 27.12, a P/E/G ratio of 2.05 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.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company earned $3.31 earnings per share. Kinsale Capital Group’s revenue was up 33.0% on a year-over-year basis. Equities research analysts anticipate that Kinsale Capital Group will post 15.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KNSL. Truist Financial decreased their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Royal Bank of Canada lowered their target price on 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. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock 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 for the company in a report on Monday, October 28th. Finally, Jefferies Financial Group raised their target price on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $455.88.

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.