Kinsale Capital Group, Inc. Declares Quarterly Dividend of $0.25 (NYSE:KNSL)

Kinsale Capital Group, Inc. (NYSE:KNSL) announced a quarterly dividend on Monday, May 11th. Stockholders of record on Thursday, May 28th will be given a dividend of 0.25 per share by the financial services provider on Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, May 28th.

Kinsale Capital Group has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Kinsale Capital Group has a dividend payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kinsale Capital Group to earn $21.99 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 4.5%.

Kinsale Capital Group Price Performance

KNSL stock opened at $300.20 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The business has a 50 day simple moving average of $346.85 and a 200-day simple moving average of $376.34. The firm has a market capitalization of $6.92 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 0.99 and a beta of 0.95. Kinsale Capital Group has a 1 year low of $293.78 and a 1 year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The business had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. During the same period in the prior year, the business earned $3.71 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that Kinsale Capital Group will post 20.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on KNSL. Morgan Stanley reiterated an “equal weight” rating and issued a $350.00 price objective (down from $450.00) on shares of Kinsale Capital Group in a research note on Monday, April 6th. Royal Bank Of Canada reduced their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Cantor Fitzgerald reduced their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Truist Financial reduced their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Finally, Wells Fargo & Company cut Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $420.00 to $357.00 in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $392.00.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.