Kingstone Companies (NASDAQ:KINS) Issues Quarterly Earnings Results

Kingstone Companies (NASDAQ:KINS) announced its earnings results on Thursday. The insurance provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.25), Morningstar.com reports. The business had revenue of $34.61 million for the quarter, compared to the consensus estimate of $35.40 million. Kingstone Companies had a negative net margin of 2.03% and a negative return on equity of 3.77%.

Kingstone Companies stock traded up $0.04 during mid-day trading on Friday, hitting $7.86. 80,322 shares of the company’s stock traded hands, compared to its average volume of 73,518. Kingstone Companies has a one year low of $7.50 and a one year high of $20.60. The firm has a market cap of $84.25 million, a P/E ratio of 16.72 and a beta of 0.62. The company has a 50 day moving average price of $8.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.47 and a current ratio of 0.47.

In other news, CEO Dale A. Thatcher purchased 25,000 shares of the stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $9.00 per share, for a total transaction of $225,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have bought 32,000 shares of company stock worth $285,390. 8.90% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of 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 period. Asset Dedication LLC acquired a new position in shares of Kingstone Companies in the 2nd quarter worth $26,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Kingstone Companies in the 1st quarter worth $162,000. Bank of America Corp DE grew its holdings in shares of Kingstone Companies by 37.0% in the 4th quarter. Bank of America Corp DE now owns 11,215 shares of the insurance provider’s stock worth $199,000 after acquiring an additional 3,031 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new position in shares of Kingstone Companies in the 1st quarter worth $505,000. Institutional investors own 47.99% of the company’s stock.

Several analysts have weighed in on KINS shares. ValuEngine raised Kingstone Companies from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Boenning Scattergood set a $13.00 target price on Kingstone Companies and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, Zacks Investment Research raised Kingstone Companies from a “strong sell” rating to a “hold” rating in a research note on Saturday.

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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Earnings History for Kingstone Companies (NASDAQ:KINS)

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