Kingstone Companies Inc (NASDAQ:KINS) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.01 and traded as low as $8.28. Kingstone Companies shares last traded at $8.33, with a volume of 973 shares.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Kingstone Companies from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Boenning Scattergood set a $13.00 price objective on Kingstone Companies and gave the stock a “buy” rating in a research report on Monday, May 20th. Finally, ValuEngine raised Kingstone Companies from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.
The stock has a market cap of $88.36 million, a price-to-earnings ratio of 18.49 and a beta of 0.61. The company’s 50 day simple moving average is $8.18 and its 200 day simple moving average is $11.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.49 and a current ratio of 0.49.
Kingstone Companies (NASDAQ:KINS) last announced its earnings results on Thursday, August 8th. The insurance provider reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.25). Kingstone Companies had a negative return on equity of 3.77% and a negative net margin of 2.03%. The firm had revenue of $34.61 million for the quarter, compared to the consensus estimate of $35.40 million. Sell-side analysts predict that Kingstone Companies Inc will post -0.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.063 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.25 annualized dividend and a dividend yield of 2.90%. Kingstone Companies’s dividend payout ratio (DPR) is 53.19%.
In other news, insider Barry Goldstein bought 5,950 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $8.16 per share, with a total value of $48,552.00. Following the completion of the purchase, the insider now directly owns 613,876 shares of the company’s stock, valued at approximately $5,009,228.16. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased 14,950 shares of company stock valued at $122,122 in the last ninety days. Company insiders own 8.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hancock Whitney Corp boosted its position in Kingstone Companies by 18.4% during the 2nd quarter. Hancock Whitney Corp now owns 13,128 shares of the insurance provider’s stock worth $114,000 after acquiring an additional 2,040 shares during the last quarter. Salzhauer Michael lifted its position in Kingstone Companies by 42.8% during the 2nd quarter. Salzhauer Michael now owns 83,434 shares of the insurance provider’s stock worth $722,000 after buying an additional 25,000 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Kingstone Companies by 26.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,549 shares of the insurance provider’s stock worth $212,000 after buying an additional 5,091 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Kingstone Companies during the 2nd quarter worth about $233,000. Finally, Paloma Partners Management Co acquired a new position in shares of Kingstone Companies during the 2nd quarter worth about $401,000. Institutional investors and hedge funds own 46.10% of the company’s stock.
Kingstone Companies Company Profile (NASDAQ:KINS)
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 offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.
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