Kingstone Companies (NASDAQ:KINS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
A number of other research firms also recently issued reports on KINS. ValuEngine downgraded Kingstone Companies from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Boenning Scattergood set a $21.00 price target on Kingstone Companies and gave the stock a “buy” rating in a research note on Thursday, May 10th.
Kingstone Companies opened at $16.75 on Wednesday, Marketbeat.com reports. The company has a market cap of $174.95 million, a P/E ratio of 17.82 and a beta of 0.99. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.33. Kingstone Companies has a 52-week low of $13.20 and a 52-week high of $21.70.
Kingstone Companies (NASDAQ:KINS) last released its quarterly earnings results on Thursday, May 10th. The insurance provider reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.17. The firm had revenue of $25.70 million for the quarter, compared to the consensus estimate of $28.30 million. Kingstone Companies had a return on equity of 6.67% and a net margin of 5.93%. research analysts expect that Kingstone Companies will post 1 EPS for the current fiscal year.
In related news, insider Barry Goldstein bought 4,000 shares of the stock in a transaction on Tuesday, March 20th. The shares were bought at an average cost of $15.28 per share, for a total transaction of $61,120.00. Following the purchase, the insider now owns 632,530 shares of the company’s stock, valued at approximately $9,665,058.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William L. Yankus bought 2,000 shares of the stock in a transaction on Wednesday, March 21st. The stock was bought at an average price of $16.90 per share, for a total transaction 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 worth $487,310 in the last 90 days. 10.30% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in KINS. Next Century Growth Investors LLC grew its stake in shares of Kingstone Companies by 46.9% in the 4th quarter. Next Century Growth Investors LLC now owns 292,309 shares of the insurance provider’s stock valued at $5,495,000 after purchasing an additional 93,385 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Kingstone Companies by 35.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 239,155 shares of the insurance provider’s stock valued at $4,018,000 after purchasing an additional 62,729 shares during the last quarter. EAM Investors LLC purchased a new position in shares of Kingstone Companies in the 4th quarter valued at approximately $648,000. ACR Alpine Capital Research LLC grew its stake in shares of Kingstone Companies by 15.1% in the 1st quarter. ACR Alpine Capital Research LLC now owns 227,668 shares of the insurance provider’s stock valued at $3,825,000 after purchasing an additional 29,891 shares during the last quarter. Finally, Capital Management Associates NY purchased a new position in shares of Kingstone Companies in the 1st quarter valued at approximately $294,000. Institutional investors own 50.62% 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 provides personal lines insurance products, such as homeowners and dwelling fire multi-peril, cooperative/condominium, renter, and personal umbrella policies.
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