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

Kinsale Capital Group, Inc. (NYSE:KNSL) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Shareholders 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 yield of 0.13%. The ex-dividend date of this dividend is Friday, November 29th.

Kinsale Capital Group has raised 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 Stock Down 1.8 %

Shares of NYSE KNSL opened at $465.17 on Friday. Kinsale Capital Group has a 1 year low of $325.01 and a 1 year high of $548.47. The firm’s 50-day moving average is $458.27 and its 200-day moving average is $427.89. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $10.83 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. The firm had revenue of $418.06 million for 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 business’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period last year, the firm earned $3.31 earnings per share. Equities analysts expect that Kinsale Capital Group will post 15.52 EPS for the current year.

Analyst Upgrades and Downgrades

KNSL has been the subject of a number of analyst reports. Wolfe Research raised 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. Truist Financial cut their target price on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada decreased their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Jefferies Financial Group increased their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kinsale Capital Group currently has an average 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.