Kingstone Companies (KINS) Issues Earnings Results, Misses Estimates By $0.10 EPS
Kingstone Companies (NASDAQ:KINS) posted its quarterly earnings results on Thursday. The insurance provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.10), Morningstar.com reports. 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 analysts’ expectations of $33.30 million.
Shares of KINS opened at $16.97 on Friday. The company has a market cap of $184.91 million, a PE ratio of 18.05 and a beta of 1.21. Kingstone Companies has a 1 year low of $13.20 and a 1 year high of $21.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57.
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.
Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Kingstone Companies during the 1st quarter worth approximately $123,000. JPMorgan Chase & Co. raised its holdings in shares of Kingstone Companies by 398.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,387 shares of the insurance provider’s stock worth $179,000 after acquiring an additional 7,503 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Kingstone Companies during the 2nd quarter worth approximately $176,000. 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. Finally, Globeflex Capital L P raised its holdings in shares of Kingstone Companies by 14.8% during the 2nd quarter. Globeflex Capital L P now owns 45,700 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 5,900 shares in the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.
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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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