Kinsale Capital Group, Inc. (NYSE:KNSL) Declares Dividend Increase – $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 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15.

Kinsale Capital Group has increased 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. 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 0.5 %

Shares of Kinsale Capital Group stock opened at $476.78 on Thursday. Kinsale Capital Group has a twelve month low of $355.12 and a twelve month high of $548.47. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15. 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 company has a fifty day moving average price of $461.71 and a 200 day moving average price of $465.49.

Insider Buying and Selling

In related news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group 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 in the company, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now owns 7,348 shares in the company, valued at $3,672,456.92. The trade was a 23.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,235 shares of company stock worth $3,618,954. Insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

KNSL has been the subject of several analyst reports. Truist Financial decreased their target price on 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. 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 research report on Monday, October 28th. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley started coverage on shares of Kinsale Capital Group in a research note on Thursday, December 5th. They issued an “overweight” rating and a $593.00 target price for the company. Finally, BMO Capital Markets lifted their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Kinsale Capital Group presently 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.