Cadence Capital Management LLC lifted its holdings in shares of Kingstone Companies, Inc (NASDAQ:KINS) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,456 shares of the insurance provider’s stock after buying an additional 5,198 shares during the period. Cadence Capital Management LLC owned 1.01% of Kingstone Companies worth $1,752,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in KINS. Eagle Global Advisors LLC lifted its stake in shares of Kingstone Companies by 23.2% in the 2nd quarter. Eagle Global Advisors LLC now owns 13,108 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 2,468 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Kingstone Companies by 300.3% in the 2nd 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 during the period. Laurel Wealth Advisors Inc. lifted its stake in shares of Kingstone Companies by 9.8% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 86,850 shares of the insurance provider’s stock worth $1,328,000 after acquiring an additional 7,730 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Kingstone Companies during the second quarter valued at approximately $139,000. Finally, New York State Common Retirement Fund acquired a new stake in Kingstone Companies during the second quarter valued at approximately $148,000. 49.55% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded shares of Kingstone Companies from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Tuesday, November 14th.
Shares of Kingstone Companies, Inc (KINS) opened at $18.95 on Friday. The firm has a market cap of $201.36, a price-to-earnings ratio of 18.76 and a beta of 0.77. Kingstone Companies, Inc 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 data on Thursday, November 9th. The insurance provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. The company had revenue of $21.50 million during the quarter, compared to the consensus estimate of $22.15 million. Kingstone Companies had a net margin of 11.59% and a return on equity of 12.28%. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. equities analysts anticipate that Kingstone Companies, Inc will post 1.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, November 29th. Kingstone Companies’s dividend payout ratio (DPR) is currently 31.37%.
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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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