Kingstone Companies, Inc. (KINS) Stock Rating Upgraded by Zacks Investment Research
Kingstone Companies, Inc. (NASDAQ:KINS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $19.00 price objective on the insurance provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 4.11% from the company’s current price.
According to Zacks, “Kingstone Companies, Inc., formerly DCAP Group, Inc., is engaged in the ownership of an insurance company. The Company focuses on automobile, motorcycle and homeowners insurance and its customer base is primarily individuals rather than businesses. There are three Atlantic Insurance locations in eastern Pennsylvania. All of the Barry Scott, Atlantic Insurance and Accurate Agency locations are wholly owned by the Company. “
Separately, Boenning Scattergood restated a “buy” rating on shares of Kingstone Companies in a report on Friday, August 11th.
Shares of Kingstone Companies (NASDAQ KINS) traded up $0.40 during trading hours on Tuesday, hitting $18.25. The stock had a trading volume of 45,200 shares, compared to its average volume of 65,015. Kingstone Companies has a one year low of $11.80 and a one year high of $18.30. The firm has a market cap of $189.68, a P/E ratio of 17.67 and a beta of 0.70.
Kingstone Companies (NASDAQ:KINS) last released its earnings results on Thursday, November 9th. The insurance provider reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.06. The company had revenue of $21.50 million during the quarter, compared to analyst estimates of $22.15 million. Kingstone Companies had a return on equity of 17.75% and a net margin of 16.55%. The company’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. analysts anticipate that Kingstone Companies will post 1.05 earnings per share for the current year.
Several large investors have recently made changes to their positions in KINS. Salzhauer Michael raised its holdings in shares of Kingstone Companies by 6.0% during the second quarter. Salzhauer Michael now owns 66,800 shares of the insurance provider’s stock worth $1,022,000 after acquiring an additional 3,800 shares in the last quarter. Eagle Global Advisors LLC increased its position in Kingstone Companies by 23.2% during the second quarter. Eagle Global Advisors LLC now owns 13,108 shares of the insurance provider’s stock worth $201,000 after buying an additional 2,468 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in Kingstone Companies during the second quarter worth $225,000. Bank of New York Mellon Corp increased its position in Kingstone Companies by 245.2% during the second quarter. Bank of New York Mellon Corp now owns 34,796 shares of the insurance provider’s stock worth $533,000 after buying an additional 24,715 shares during the last quarter. Finally, Cadence Capital Management LLC increased its position in Kingstone Companies by 36.9% during the second quarter. Cadence Capital Management LLC now owns 102,258 shares of the insurance provider’s stock worth $1,565,000 after buying an additional 27,554 shares during the last quarter. Institutional investors and hedge funds own 47.41% of the company’s stock.
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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