Cincinnati Insurance Co. Invests $1.24 Million in Kingstone Companies, Inc $KINS

Cincinnati Insurance Co. acquired a new stake in Kingstone Companies, Inc (NASDAQ:KINS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 84,161 shares of the insurance provider’s stock, valued at approximately $1,237,000. Cincinnati Insurance Co. owned 0.60% of Kingstone Companies as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cincinnati Life Insurance Co. acquired a new position in Kingstone Companies during the third quarter worth about $619,000. Strs Ohio raised its holdings in Kingstone Companies by 2.5% during the third quarter. Strs Ohio now owns 33,400 shares of the insurance provider’s stock worth $491,000 after purchasing an additional 800 shares during the last quarter. Corient Private Wealth LLC boosted its position in Kingstone Companies by 25.0% during the second quarter. Corient Private Wealth LLC now owns 25,000 shares of the insurance provider’s stock worth $385,000 after purchasing an additional 5,000 shares in the last quarter. Osaic Holdings Inc. boosted its position in Kingstone Companies by 37.8% during the second quarter. Osaic Holdings Inc. now owns 40,619 shares of the insurance provider’s stock worth $626,000 after purchasing an additional 11,144 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Kingstone Companies by 201.9% in the second quarter. Squarepoint Ops LLC now owns 101,757 shares of the insurance provider’s stock valued at $1,568,000 after purchasing an additional 68,055 shares during the last quarter. Hedge funds and other institutional investors own 14.91% of the company’s stock.

Analysts Set New Price Targets

KINS has been the subject of several research reports. Zacks Research raised Kingstone Companies to a “hold” rating in a research note on Friday, February 6th. Wall Street Zen cut shares of Kingstone Companies from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Kingstone Companies in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Kingstone Companies Trading Up 2.1%

NASDAQ:KINS opened at $16.24 on Wednesday. Kingstone Companies, Inc has a 12-month low of $13.08 and a 12-month high of $22.40. The firm has a market cap of $229.80 million, a price-to-earnings ratio of 7.42 and a beta of 0.42. The company’s 50-day moving average is $16.13 and its two-hundred day moving average is $15.12.

Kingstone Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, February 11th. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. Kingstone Companies’s dividend payout ratio (DPR) is 9.13%.

About Kingstone Companies

Kingstone Companies, Inc is a publicly traded property and casualty insurance holding company whose primary focus lies in personal and commercial insurance products. Through its wholly owned subsidiary, Kingstone Insurance Company, the firm underwrites a broad portfolio of property and casualty lines, including private passenger auto, homeowners, inland marine, umbrella, and various small‐commercial coverage options. Distribution is handled predominantly through a network of independent agents, allowing Kingstone to maintain strong broker relationships and responsive service for policyholders.

The company was incorporated in Delaware in 2010 and commenced operations following the acquisition of Kingstone Insurance Company in early 2011.