Kinsale Capital Group, Inc. (NYSE:KNSL) Raises Dividend to $0.17 Per Share

Kinsale Capital Group, Inc. (NYSE:KNSL) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders of record on Thursday, February 27th will be given a dividend of 0.17 per share by the financial services provider on Thursday, March 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15.

Kinsale Capital Group has raised its dividend by an average of 10.9% per year over the last three years. Kinsale Capital Group has a dividend payout ratio of 2.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kinsale Capital Group to earn $18.15 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 Down 0.6 %

Shares of NYSE:KNSL opened at $476.17 on Wednesday. The stock’s 50-day moving average is $462.15 and its 200 day moving average is $465.25. The company has a market cap of $11.09 billion, a PE ratio of 27.15, a P/E/G ratio of 1.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group has a 1 year low of $355.12 and a 1 year high of $548.47.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KNSL. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective on the stock in a research report on Monday, October 28th. Royal Bank of Canada reduced their price target on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Truist Financial reduced their target price on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, BMO Capital Markets lifted 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 report on Thursday, November 21st. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group has a consensus rating of “Hold” and an average target price of $468.89.

Insider Buying and Selling

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the 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 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 filing with the SEC, which is available at the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,235 shares of company stock worth $3,618,954 in the last quarter. Corporate 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.