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

Kinsale Capital Group, Inc. (NYSE:KNSL) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors 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 annualized dividend and a yield of 0.14%. 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% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 1.3 %

NYSE:KNSL traded down $6.19 on Tuesday, reaching $478.06. The company’s stock had a trading volume of 173,200 shares, compared to its average volume of 204,748. Kinsale Capital Group has a 1-year low of $355.12 and a 1-year high of $548.47. The business’s 50-day moving average price is $462.15 and its two-hundred day moving average price is $465.25. The firm has a market cap of $11.13 billion, a PE ratio of 27.26, a PEG ratio of 1.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

Insider Buying and Selling

In related news, EVP Diane D. Schnupp sold 500 shares of the business’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 in the company, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now owns 447 shares of the company’s stock, valued at approximately $223,191.57. This represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,235 shares of company stock worth $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KNSL. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Royal Bank of Canada lowered their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. BMO Capital Markets boosted their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Wolfe Research raised 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. Finally, Truist Financial dropped their target price on Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $468.89.

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.