Zacks Investment Research upgraded shares of Kingstone Companies (NASDAQ:KINS) from a strong sell rating to a hold rating in a research report report published on Saturday morning, Zacks.com reports.

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. “

Several other analysts also recently weighed in on the company. Boenning Scattergood set a $13.00 price target on Kingstone Companies and gave the stock a buy rating in a research note on Monday, May 20th. ValuEngine upgraded Kingstone Companies from a hold rating to a buy rating in a research note on Thursday, August 1st.

Shares of NASDAQ:KINS opened at $7.94 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $84.68 million, a price-to-earnings ratio of 16.89 and a beta of 0.62. The stock has a 50 day moving average price of $8.55. Kingstone Companies has a 52-week low of $7.50 and a 52-week high of $20.60.

Kingstone Companies (NASDAQ:KINS) last posted its quarterly earnings results on Thursday, August 8th. The insurance provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.25). The company had revenue of $34.61 million during the quarter, compared to analysts’ expectations of $35.40 million. Kingstone Companies had a negative return on equity of 3.77% and a negative net margin of 2.03%. On average, analysts forecast that Kingstone Companies will post 0.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.063 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.25 annualized dividend and a dividend yield of 3.17%. Kingstone Companies’s payout ratio is currently 85.11%.

Several institutional investors have recently bought and sold shares of the stock. Asset Dedication LLC purchased a new stake in Kingstone Companies during the 2nd quarter valued at $26,000. BNP Paribas Arbitrage SA boosted its stake in Kingstone Companies by 1,029.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,966 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 1,792 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Kingstone Companies during the 1st quarter valued at $162,000. Bank of America Corp DE boosted its stake in Kingstone Companies by 37.0% during the 4th quarter. Bank of America Corp DE now owns 11,215 shares of the insurance provider’s stock valued at $199,000 after purchasing an additional 3,031 shares during the last quarter. Finally, Monarch Partners Asset Management LLC boosted its stake in Kingstone Companies by 14.2% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 54,372 shares of the insurance provider’s stock valued at $470,000 after purchasing an additional 6,770 shares during the last quarter. Institutional investors own 47.70% of the company’s stock.

Kingstone Companies Company Profile

Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to small businesses and individuals in New York. The company offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.

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