Kingstone Companies (KINS) Upgraded to “Buy” at ValuEngine
ValuEngine upgraded shares of Kingstone Companies (NASDAQ:KINS) from a hold rating to a buy rating in a report issued on Sunday morning.
Separately, Zacks Investment Research upgraded shares of Kingstone Companies from a hold rating to a buy rating and set a $19.00 target price for the company in a research report on Tuesday, November 14th.
Kingstone Companies (NASDAQ KINS) opened at $18.80 on Friday. The company has a market cap of $199.78, a price-to-earnings ratio of 18.43 and a beta of 0.77. Kingstone Companies has a 1 year low of $11.80 and a 1 year high of $19.60.
Kingstone Companies (NASDAQ:KINS) last released its quarterly earnings results on Thursday, November 9th. The insurance provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The firm had revenue of $21.50 million during the quarter, compared to analyst estimates of $22.15 million. Kingstone Companies had a net margin of 11.59% and a return on equity of 12.28%. The business’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. analysts forecast that Kingstone Companies will post 1.05 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.32 annualized dividend and a yield of 1.70%. Kingstone Companies’s dividend payout ratio (DPR) is presently 31.37%.
A number of large investors have recently made changes to their positions in KINS. The Manufacturers Life Insurance Company purchased a new position in Kingstone Companies in the second quarter worth $139,000. JPMorgan Chase & Co. grew its position in Kingstone Companies by 300.3% in the second quarter. JPMorgan Chase & Co. now owns 9,098 shares of the insurance provider’s stock worth $139,000 after acquiring an additional 6,825 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Kingstone Companies in the second quarter worth $148,000. Ladenburg Thalmann Financial Services Inc. grew its position in Kingstone Companies by 36.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,985 shares of the insurance provider’s stock worth $179,000 after acquiring an additional 2,907 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in Kingstone Companies in the second quarter worth $225,000. Institutional investors own 49.55% 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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