Kinsale Capital Group, Inc. (NYSE:KNSL) Announces Dividend of $0.17

Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) announced a dividend on Friday, May 23rd, investing.com reports. Shareholders of record on Friday, May 30th will be given a dividend of 0.17 per share by the financial services provider on Thursday, June 12th. This represents a yield of 0.15%. The ex-dividend date is Thursday, May 29th.

Kinsale Capital Group has increased its dividend by an average of 10.9% per year over the last three years and has increased its dividend every year for the last 2 years. Kinsale Capital Group has a payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 2.4%

Shares of NYSE:KNSL opened at $452.92 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Kinsale Capital Group has a 52-week low of $366.92 and a 52-week high of $531.79. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.66 and a beta of 1.29. The business has a 50-day moving average price of $465.55 and a 200-day moving average price of $462.80.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The company had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. During the same quarter in the prior year, the company earned $3.50 EPS. Kinsale Capital Group's quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts predict that Kinsale Capital Group will post 17.72 EPS for the current year.

Hedge Funds Weigh In On Kinsale Capital Group

A hedge fund recently raised its stake in Kinsale Capital Group stock. AQR Capital Management LLC boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 76.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 835 shares of the financial services provider's stock after buying an additional 361 shares during the quarter. AQR Capital Management LLC's holdings in Kinsale Capital Group were worth $397,000 at the end of the most recent reporting period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KNSL. Truist Financial cut their price target on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Morgan Stanley upped their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research report on Monday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $500.00 target price on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Finally, JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $484.57.

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.

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