Kinsale Capital Group, Inc. (NYSE:KNSL) Plans Dividend Increase – $0.17 Per Share

Kinsale Capital Group, Inc. (NYSE:KNSL) declared a quarterly dividend on Tuesday, February 11th, RTT News reports. Shareholders 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 yield of 0.16%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase 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 payout ratio of 3.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kinsale Capital Group to earn $21.03 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 3.2%.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $426.45 on Tuesday. The firm has a fifty day simple moving average of $452.64 and a 200 day simple moving average of $465.52. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Kinsale Capital Group has a 12 month low of $355.12 and a 12 month high of $548.47. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.66 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.39. The business had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. Research analysts forecast that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Insider Transactions at Kinsale Capital Group

In other news, Director James Joseph Ritchie sold 2,295 shares of the company’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 transaction, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were 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 of the company’s stock, valued at $3,566,940. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

KNSL has been the subject of a number of research analyst reports. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Wolfe Research upgraded 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 note on Monday, October 28th. Morgan Stanley decreased their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, BMO Capital Markets lifted their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $468.56.

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.