Kinsale Capital Group, Inc. (NYSE:KNSL) to Issue Quarterly Dividend of $0.17

Kinsale Capital Group, Inc. (NYSE:KNSL) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors 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 boost from Kinsale Capital Group’s previous quarterly dividend of $0.15.

Kinsale Capital Group has increased its dividend payment 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

Shares of NYSE KNSL opened at $476.17 on Wednesday. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15. The stock has a fifty day simple moving average of $462.15 and a two-hundred day simple moving average of $465.25. 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 has a 1-year low of $355.12 and a 1-year high of $548.47.

Insider Buying and Selling

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction 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 $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of the company’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 owns 6,994 shares of the company’s stock, valued at $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,235 shares of company stock worth $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.