Kinsale Capital Group, Inc. (NASDAQ:KNSL) to Issue $0.11 Quarterly Dividend

Kinsale Capital Group, Inc. (NASDAQ:KNSL) declared a quarterly dividend on Monday, November 15th, Zacks reports. Stockholders of record on Monday, November 29th will be given a dividend of 0.11 per share by the financial services provider on Monday, December 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, November 26th.

Kinsale Capital Group has raised its dividend payment by 50.0% over the last three years and has raised its dividend every year for the last 5 years. Kinsale Capital Group has a payout ratio of 7.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kinsale Capital Group to earn $6.28 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 7.0%.

Shares of KNSL stock opened at $214.61 on Thursday. The business’s fifty day moving average price is $179.27 and its 200 day moving average price is $173.21. Kinsale Capital Group has a 1-year low of $153.12 and a 1-year high of $252.70. The firm has a market capitalization of $4.90 billion, a PE ratio of 34.73 and a beta of 0.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.14 and a quick ratio of 0.14.

Kinsale Capital Group (NASDAQ:KNSL) last announced its quarterly earnings data on Thursday, October 28th. The financial services provider reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.60. Kinsale Capital Group had a return on equity of 19.24% and a net margin of 23.93%. The firm had revenue of $164.88 million for the quarter, compared to analyst estimates of $152.98 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Kinsale Capital Group’s quarterly revenue was up 34.6% on a year-over-year basis. Equities research analysts expect that Kinsale Capital Group will post 5.37 earnings per share for the current fiscal year.

In related news, CEO Michael P. Kehoe sold 2,500 shares of the stock in a transaction dated Thursday, November 4th. The stock was sold at an average price of $200.88, for a total transaction of $502,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction dated Friday, November 12th. The stock was sold at an average price of $200.00, for a total value of $800,000.00. The disclosure for this sale can be found here. 6.50% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Kinsale Capital Group stock. Jane Street Group LLC raised its holdings in shares of Kinsale Capital Group, Inc. (NASDAQ:KNSL) by 42.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,059 shares of the financial services provider’s stock after buying an additional 1,496 shares during the period. Jane Street Group LLC’s holdings in Kinsale Capital Group were worth $818,000 at the end of the most recent reporting period. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have commented on the company. Truist Securities boosted their target price on Kinsale Capital Group from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, November 1st. Zacks Investment Research upgraded Kinsale Capital Group from a “hold” rating to a “strong-buy” rating and set a $234.00 target price on the stock in a research report on Wednesday, November 3rd. JMP Securities reiterated a “hold” rating on shares of Kinsale Capital Group in a research report on Friday, October 29th. Truist boosted their target price on Kinsale Capital Group from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, November 1st. Finally, Royal Bank of Canada decreased their target price on Kinsale Capital Group from $235.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, September 30th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $230.67.

About Kinsale Capital Group

Kinsale Capital Group, Inc is a holding company, which engages in the provision of property and casualty insurance services. It operates the Excess and Surplus Lines Insurance segment. The Excess and Surplus Lines Insurance segment provides commercial excess and surplus lines liability and property insurance products through underwriting divisions.

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Dividend History for Kinsale Capital Group (NASDAQ:KNSL)

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