Boenning Scattergood Reaffirms Buy Rating for Kingstone Companies, Inc (KINS)
Boenning Scattergood restated their buy rating on shares of Kingstone Companies, Inc (NASDAQ:KINS) in a research report report published on Friday, July 14th. Boenning Scattergood currently has a $16.00 price objective on the insurance provider’s stock.
KINS has been the subject of several other reports. Zacks Investment Research cut shares of Kingstone Companies from a hold rating to a sell rating in a report on Tuesday, June 13th. ValuEngine upgraded shares of Kingstone Companies from a buy rating to a strong-buy rating in a research note on Tuesday, June 6th.
Kingstone Companies (NASDAQ KINS) traded down 1.29% during mid-day trading on Friday, reaching $15.35. 100,670 shares of the company traded hands. The stock has a market capitalization of $163.06 million, a PE ratio of 13.12 and a beta of 0.68. The stock has a 50-day moving average of $15.83 and a 200 day moving average of $14.79. Kingstone Companies has a 52-week low of $8.62 and a 52-week high of $16.50.
Kingstone Companies (NASDAQ:KINS) last posted its quarterly earnings results on Thursday, May 11th. The insurance provider reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $16.37 million during the quarter, compared to analysts’ expectations of $16.80 million. Kingstone Companies had a net margin of 12.34% and a return on equity of 15.00%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. Equities research analysts expect that Kingstone Companies will post $1.13 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its position in shares of Kingstone Companies by 24.3% in the second quarter. Royce & Associates LP now owns 607,511 shares of the insurance provider’s stock worth $9,295,000 after buying an additional 118,741 shares during the period. Cadence Capital Management LLC raised its position in shares of Kingstone Companies by 36.9% in the second quarter. Cadence Capital Management LLC now owns 102,258 shares of the insurance provider’s stock worth $1,565,000 after buying an additional 27,554 shares during the period. Bank of New York Mellon Corp raised its position in shares of Kingstone Companies by 245.2% in the second quarter. Bank of New York Mellon Corp now owns 34,796 shares of the insurance provider’s stock worth $533,000 after buying an additional 24,715 shares during the period. Schwab Charles Investment Management Inc. bought a new position in shares of Kingstone Companies during the second quarter worth about $225,000. Finally, Eagle Global Advisors LLC raised its position in shares of Kingstone Companies by 23.2% in the second quarter. Eagle Global Advisors LLC now owns 13,108 shares of the insurance provider’s stock worth $201,000 after buying an additional 2,468 shares during the period. 40.02% of the stock is currently owned by institutional investors.
Kingstone Companies Company Profile
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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