Kingstone Companies (KINS) Stock Rating Lowered by Zacks Investment Research
Kingstone Companies (NASDAQ:KINS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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. “
A number of other equities analysts have also issued reports on KINS. ValuEngine upgraded shares of Kingstone Companies from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Boenning Scattergood set a $24.00 target price on shares of Kingstone Companies and gave the stock a “buy” rating in a research report on Thursday, March 15th.
Kingstone Companies (NASDAQ:KINS) last announced its earnings results on Wednesday, March 14th. The insurance provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.16). Kingstone Companies had a return on equity of 10.83% and a net margin of 10.77%. The company had revenue of $25.78 million for the quarter, compared to analyst estimates of $26.80 million. research analysts anticipate that Kingstone Companies will post 1.4 EPS for the current fiscal year.
In related news, COO Dale A. Thatcher bought 25,000 shares of Kingstone Companies stock in a transaction dated Tuesday, March 20th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $375,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Barry Goldstein purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 20th. The shares were acquired at an average cost of $15.28 per share, with a total value of $61,120.00. Following the completion of the purchase, the insider now owns 632,530 shares of the company’s stock, valued at $9,665,058.40. The disclosure for this purchase can be found here. Insiders have bought 30,000 shares of company stock worth $453,510 over the last quarter. 10.30% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Kingstone Companies during the second quarter worth approximately $139,000. New York State Common Retirement Fund bought a new stake in shares of Kingstone Companies during the second quarter worth approximately $148,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Kingstone Companies by 36.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,985 shares of the insurance provider’s stock worth $179,000 after buying an additional 2,907 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Kingstone Companies during the fourth quarter worth approximately $198,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Kingstone Companies during the fourth quarter worth approximately $200,000. 51.70% of the stock is owned by institutional investors and hedge funds.
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About Kingstone Companies
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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