Zacks: Kingstone Companies Inc (KINS) Given Average Recommendation of “Strong Buy” by Brokerages

Kingstone Companies Inc (NASDAQ:KINS) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price objective of $20.00 for the company and are expecting that the company will post $0.34 EPS for the current quarter, according to Zacks. Zacks has also assigned Kingstone Companies an industry rank of 184 out of 257 based on the ratings given to its competitors.

Several research analysts have weighed in on the company. Boenning Scattergood restated a “buy” rating and issued a $20.00 price target on shares of Kingstone Companies in a research note on Thursday, August 9th. Zacks Investment Research downgraded Kingstone Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, ValuEngine upgraded Kingstone Companies from a “hold” rating to a “buy” rating in a research note on Monday, October 29th.

KINS stock traded down $0.35 during midday trading on Friday, hitting $16.97. The company’s stock had a trading volume of 23,169 shares, compared to its average volume of 19,451. Kingstone Companies has a 12 month low of $13.20 and a 12 month high of $21.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $184.91 million, a price-to-earnings ratio of 18.05 and a beta of 1.21.

Kingstone Companies (NASDAQ:KINS) last posted its quarterly earnings results on Thursday, November 8th. The insurance provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.10). Kingstone Companies had a return on equity of 6.78% and a net margin of 5.37%. The business had revenue of $30.89 million during the quarter, compared to the consensus estimate of $33.30 million. Sell-side analysts anticipate that Kingstone Companies will post 0.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.36%. Kingstone Companies’s dividend payout ratio (DPR) is 42.55%.

In other news, Director Carla D’andre acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were acquired at an average cost of $16.67 per share, with a total value of $33,340.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have bought a total of 6,000 shares of company stock worth $100,720 over the last ninety days. Insiders own 10.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp raised its holdings in shares of Kingstone Companies by 3.5% during the 2nd quarter. Northern Trust Corp now owns 98,408 shares of the insurance provider’s stock worth $1,663,000 after acquiring an additional 3,351 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Kingstone Companies by 5.0% during the 1st quarter. Wells Fargo & Company MN now owns 76,712 shares of the insurance provider’s stock worth $1,289,000 after acquiring an additional 3,666 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Kingstone Companies by 0.9% during the 3rd quarter. BlackRock Inc. now owns 476,115 shares of the insurance provider’s stock worth $9,046,000 after acquiring an additional 4,355 shares in the last quarter. Foundry Partners LLC raised its holdings in shares of Kingstone Companies by 1.4% during the 3rd quarter. Foundry Partners LLC now owns 362,826 shares of the insurance provider’s stock worth $6,894,000 after acquiring an additional 4,901 shares in the last quarter. Finally, Capital Management Associates NY raised its holdings in shares of Kingstone Companies by 28.6% during the 3rd quarter. Capital Management Associates NY now owns 22,500 shares of the insurance provider’s stock worth $427,000 after acquiring an additional 5,000 shares in the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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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