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

Kinsale Capital Group, Inc. (NYSE:KNSL) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Friday, August 28th will be paid a dividend of 0.25 per share by the financial services provider on Monday, September 14th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 28th.

Kinsale Capital Group has increased its dividend payment 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 payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kinsale Capital Group to earn $21.49 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 4.7%.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $373.96 on Thursday. The firm has a market capitalization of $8.52 billion, a P/E ratio of 15.15, a PEG ratio of 1.18 and a beta of 0.89. The stock has a 50-day simple moving average of $336.68 and a two-hundred day simple moving average of $346.13. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group has a fifty-two week low of $287.20 and a fifty-two week high of $485.00.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. The firm had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.78 earnings per share. On average, equities analysts forecast that Kinsale Capital Group will post 21.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KNSL shares. Truist Financial decreased their price target on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. JPMorgan Chase & Co. boosted their target price on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Morgan Stanley dropped their price target on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Weiss Ratings cut Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Finally, TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $362.11.

About Kinsale Capital Group

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.