Kingstone Companies, Inc (KINS) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS
Kingstone Companies, Inc (NASDAQ:KINS) posted its quarterly earnings data on Thursday. The insurance provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.06, Briefing.com reports. Kingstone Companies had a net margin of 11.52% and a return on equity of 12.81%. The business had revenue of $21.50 million during the quarter, compared to the consensus estimate of $22.15 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 37.4% compared to the same quarter last year.
Kingstone Companies (KINS) traded up $1.95 during midday trading on Friday, reaching $17.30. 60,706 shares of the company were exchanged, compared to its average volume of 65,472. Kingstone Companies has a 52 week low of $10.69 and a 52 week high of $17.85. The firm has a market capitalization of $162.12, a P/E ratio of 14.66 and a beta of 0.70.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 1.85%. Kingstone Companies’s dividend payout ratio is presently 29.91%.
Several research firms have recently commented on KINS. Zacks Investment Research downgraded shares of Kingstone Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Boenning Scattergood reiterated a “buy” rating on shares of Kingstone Companies in a research note on Friday, August 11th.
Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in Kingstone Companies during the second quarter worth about $139,000. California State Teachers Retirement System bought a new stake in Kingstone Companies during the second quarter worth about $246,000. Finally, State Street Corp bought a new stake in Kingstone Companies during the second quarter worth about $1,356,000. 47.52% of the stock is owned by hedge funds and other institutional investors.
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Kingstone Companies Company Profile
Kingstone Companies, Inc offers property and casualty insurance products to small businesses and individuals in New York State. The Company offers these products through its subsidiary, Kingstone Insurance Company (KICO). KICO is a licensed property and casualty insurance company. The Company operates through property and casualty insurances segment, which offers a range of property and casualty policies to its producers.
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