Boenning Scattergood Research Analysts Decrease Earnings Estimates for Kingstone Companies Inc (KINS)
Kingstone Companies Inc (NASDAQ:KINS) – Boenning Scattergood lowered their Q2 2019 EPS estimates for shares of Kingstone Companies in a report issued on Monday, May 20th. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will post earnings per share of $0.43 for the quarter, down from their previous forecast of $0.44. Boenning Scattergood currently has a “Buy” rating and a $13.00 price objective on the stock. Boenning Scattergood also issued estimates for Kingstone Companies’ Q4 2019 earnings at $0.28 EPS, FY2019 earnings at $0.30 EPS, Q1 2020 earnings at ($0.18) EPS and FY2020 earnings at $1.15 EPS.
Several other brokerages have also recently issued reports on KINS. Zacks Investment Research upgraded shares of Kingstone Companies from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 15th. TheStreet cut shares of Kingstone Companies from a “b” rating to a “c+” rating in a report on Thursday, March 14th.
Kingstone Companies (NASDAQ:KINS) last issued its earnings results on Wednesday, May 8th. The insurance provider reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.33). Kingstone Companies had a negative net margin of 1.24% and a negative return on equity of 1.78%. The company had revenue of $34.90 million during the quarter, compared to analyst estimates of $35.70 million.
Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its position in Kingstone Companies by 1,029.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,966 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 1,792 shares during the last quarter. Kore Private Wealth LLC purchased a new stake in Kingstone Companies in the 1st quarter valued at $29,000. O Shaughnessy Asset Management LLC purchased a new stake in Kingstone Companies in the 1st quarter valued at $162,000. Hancock Whitney Corp purchased a new stake in Kingstone Companies in the 1st quarter valued at $163,000. Finally, Bank of America Corp DE raised its position in Kingstone Companies by 37.0% in the 4th quarter. Bank of America Corp DE now owns 11,215 shares of the insurance provider’s stock valued at $199,000 after purchasing an additional 3,031 shares during the last quarter. Hedge funds and other institutional investors own 48.19% of the company’s stock.
In other Kingstone Companies news, CEO Dale A. Thatcher purchased 25,000 shares of Kingstone Companies stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $9.00 per share, for a total transaction of $225,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders purchased 28,000 shares of company stock valued at $252,030. 10.30% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Thursday, May 30th. Kingstone Companies’s payout ratio is 85.11%.
About Kingstone Companies
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 offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.
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