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

Kinsale Capital Group, Inc. (NYSE:KNSL) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders of record on Thursday, February 27th will be paid a dividend of 0.17 per share by the financial services provider on Thursday, March 13th. This represents a $0.68 annualized dividend 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% annually over the last three years. Kinsale Capital Group has a dividend payout ratio of 2.8% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

KNSL stock traded down $6.19 during trading hours on Tuesday, hitting $478.06. 173,200 shares of the stock traded hands, compared to its average volume of 204,748. The stock has a 50-day simple moving average of $462.15 and a 200 day simple moving average of $465.25. The company has a market cap of $11.13 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.82 and a beta of 1.15. Kinsale Capital Group has a one year low of $355.12 and a one year 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.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the transaction, the executive vice president now directly owns 6,994 shares in the company, valued at $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. This trade represents a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,235 shares of company stock valued at $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

KNSL has been the topic of a number of recent analyst reports. Royal Bank of Canada cut 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. cut their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. BMO Capital Markets raised their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a report on Monday, October 28th. Finally, Truist Financial reduced their price target on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $468.89.

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.