Kingstone Companies Inc (KINS) Expected to Post Q3 2019 Earnings of $0.42 Per Share
Kingstone Companies Inc (NASDAQ:KINS) – Research analysts at Boenning Scattergood lowered their Q3 2019 earnings per share (EPS) estimates for Kingstone Companies in a note issued to investors on Monday, May 20th. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will post earnings of $0.42 per share for the quarter, down from their previous forecast of $0.43. Boenning Scattergood currently has a “Buy” rating and a $13.00 target price on the stock. Boenning Scattergood also issued estimates for Kingstone Companies’ Q2 2020 earnings at $0.48 EPS, Q3 2020 earnings at $0.49 EPS and Q4 2020 earnings at $0.35 EPS.
Kingstone Companies (NASDAQ:KINS) last released its earnings results on Wednesday, May 8th. The insurance provider reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.33). Kingstone Companies had a negative return on equity of 1.78% and a negative net margin of 1.24%. The business had revenue of $34.90 million during the quarter, compared to the consensus estimate of $35.70 million.
NASDAQ KINS opened at $9.50 on Wednesday. Kingstone Companies has a 12 month low of $8.39 and a 12 month high of $20.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $103.61 million, a P/E ratio of 20.21 and a beta of 0.45.
A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its position in Kingstone Companies by 1,029.9% in the first quarter. BNP Paribas Arbitrage SA now owns 1,966 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 1,792 shares in the last quarter. Kore Private Wealth LLC bought a new stake in Kingstone Companies in the first quarter worth approximately $29,000. Oxford Asset Management LLP grew its position in Kingstone Companies by 14.1% in the first quarter. Oxford Asset Management LLP now owns 20,931 shares of the insurance provider’s stock worth $309,000 after acquiring an additional 2,585 shares in the last quarter. IHT Wealth Management LLC grew its position in Kingstone Companies by 15.0% in the first quarter. IHT Wealth Management LLC now owns 20,109 shares of the insurance provider’s stock worth $296,000 after acquiring an additional 2,629 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Kingstone Companies by 37.0% in the fourth quarter. Bank of America Corp DE now owns 11,215 shares of the insurance provider’s stock worth $199,000 after acquiring an additional 3,031 shares in the last quarter. 48.19% of the stock is owned by institutional investors.
In related news, CEO Dale A. Thatcher acquired 25,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $9.00 per share, for a total transaction of $225,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders acquired 28,000 shares of company stock worth $252,030. Company insiders own 10.30% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.10 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.40 annualized dividend and a yield of 4.21%. Kingstone Companies’s dividend payout ratio is presently 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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