Kingstone Companies (NASDAQ:KINS) released its earnings results on Thursday. The insurance provider reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.25), Morningstar.com reports. The company had revenue of $34.61 million during the quarter, compared to the consensus estimate of $35.40 million. Kingstone Companies had a negative return on equity of 3.77% and a negative net margin of 2.03%.
Shares of KINS traded up $0.04 during midday trading on Friday, hitting $7.86. The company had a trading volume of 80,322 shares, compared to its average volume of 73,518. The firm has a 50 day moving average price of $8.63. The stock has a market cap of $84.25 million, a PE ratio of 16.72 and a beta of 0.62. Kingstone Companies has a 52 week low of $7.50 and a 52 week high of $20.60. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.35.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Kingstone Companies from a “strong sell” rating to a “hold” rating in a research report on Saturday. ValuEngine raised shares of Kingstone Companies from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Boenning Scattergood set a $13.00 target price on shares of Kingstone Companies and gave the stock a “buy” rating in a research report on Monday, May 20th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Dedication LLC acquired a new position in shares of Kingstone Companies in the 2nd quarter valued at about $26,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Kingstone Companies by 1,029.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,966 shares of the insurance provider’s stock valued at $29,000 after buying an additional 1,792 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Kingstone Companies in the 1st quarter valued at about $162,000. Bank of America Corp DE boosted its holdings in shares of Kingstone Companies by 37.0% in the 4th quarter. Bank of America Corp DE now owns 11,215 shares of the insurance provider’s stock valued at $199,000 after buying an additional 3,031 shares during the period. Finally, Monarch Partners Asset Management LLC boosted its holdings in shares of Kingstone Companies by 14.2% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 54,372 shares of the insurance provider’s stock valued at $470,000 after buying an additional 6,770 shares during the period. 47.99% of the stock is owned by institutional investors.
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 offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.
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