Kingstone Companies (NASDAQ:KINS) issued its earnings results on Wednesday, March 14th. The insurance provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.16), reports. 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 during the quarter, compared to analyst estimates of $26.80 million.
Shares of NASDAQ:KINS opened at $16.80 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $172.55, a P/E ratio of 17.87 and a beta of 0.96. Kingstone Companies has a 12-month low of $13.20 and a 12-month high of $21.70.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were paid a $0.10 dividend. The ex-dividend date was Tuesday, February 27th. This is an increase from Kingstone Companies’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.38%. Kingstone Companies’s dividend payout ratio (DPR) is 42.55%.
A number of analysts have issued reports on KINS shares. ValuEngine raised Kingstone Companies from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. Boenning Scattergood set a $24.00 target price on Kingstone Companies and gave the stock a “buy” rating in a research note on Thursday, March 15th. Finally, Zacks Investment Research downgraded Kingstone Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st.
In other Kingstone Companies news, COO Dale A. Thatcher acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 20th. The stock was purchased at an average cost of $15.00 per share, with a total value of $375,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William L. Yankus acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The shares were acquired at an average cost of $16.90 per share, with a total value of $33,800.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 32,000 shares of company stock valued at $487,310 over the last three months. Corporate insiders own 10.30% of the company’s stock.
Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System acquired a new stake in shares of Kingstone Companies during the 2nd quarter worth about $246,000. The Manufacturers Life Insurance Company purchased a new position in Kingstone Companies during the 2nd quarter valued at about $139,000. Finally, State Street Corp purchased a new position in Kingstone Companies during the 2nd quarter valued at about $1,356,000. 51.41% of the stock is owned by hedge funds and other institutional investors.
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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 provides personal lines insurance products, such as homeowners and dwelling fire multi-peril, cooperative/condominium, renter, and personal umbrella policies.
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