Kingstone Companies (NASDAQ:KINS) released its earnings results on Thursday. The insurance provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10), Morningstar.com reports. Kingstone Companies had a net margin of 5.83% and a return on equity of 7.16%. The firm had revenue of $30.89 million during the quarter, compared to the consensus estimate of $33.30 million.
KINS stock traded down $0.35 during mid-day trading on Friday, hitting $16.97. The stock had a trading volume of 23,100 shares, compared to its average volume of 27,704. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. Kingstone Companies has a 52 week low of $13.20 and a 52 week high of $21.70. The firm has a market cap of $183.25 million, a P/E ratio of 18.05 and a beta of 1.21.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, November 29th. Kingstone Companies’s dividend payout ratio is currently 42.55%.
In other news, Director Carla D’andre bought 3,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were purchased at an average cost of $16.83 per share, with a total value of $50,490.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders acquired 6,000 shares of company stock worth $100,720. Insiders own 10.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in KINS. Russell Investments Group Ltd. bought a new stake in shares of Kingstone Companies during the 1st quarter valued at approximately $123,000. First Trust Advisors LP bought a new stake in shares of Kingstone Companies during the 2nd quarter valued at approximately $176,000. JPMorgan Chase & Co. grew its holdings in shares of Kingstone Companies by 398.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,387 shares of the insurance provider’s stock valued at $179,000 after purchasing an additional 7,503 shares during the last quarter. Capital Management Associates NY grew its holdings in shares of Kingstone Companies by 28.6% during the 3rd quarter. Capital Management Associates NY now owns 22,500 shares of the insurance provider’s stock valued at $427,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Globeflex Capital L P grew its holdings in shares of Kingstone Companies by 14.8% during the 2nd quarter. Globeflex Capital L P now owns 45,700 shares of the insurance provider’s stock valued at $772,000 after purchasing an additional 5,900 shares during the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on KINS. ValuEngine lowered shares of Kingstone Companies from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Boenning Scattergood set a $20.00 target price on shares of Kingstone Companies and gave the company a “buy” rating in a report on Thursday. Finally, Zacks Investment Research lowered shares of Kingstone Companies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 24th.
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Kingstone Companies Company Profile
Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to small businesses and individuals in New York. The company provides personal lines insurance products, such as homeowners and dwelling fire multi-peril, cooperative/condominium, renter, and personal umbrella policies.
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