Cincinnati Insurance Co. Makes New $1.24 Million Investment in Kingstone Companies, Inc $KINS

Cincinnati Insurance Co. purchased a new stake in Kingstone Companies, Inc (NASDAQ:KINS) in the 3rd quarter, Holdings Channel reports. The firm purchased 84,161 shares of the insurance provider’s stock, valued at approximately $1,237,000.

A number of other institutional investors and hedge funds also recently modified their holdings of KINS. Strs Ohio boosted its position in shares of Kingstone Companies by 2.5% in the third quarter. Strs Ohio now owns 33,400 shares of the insurance provider’s stock worth $491,000 after acquiring an additional 800 shares during the last quarter. Ritholtz Wealth Management increased its position in Kingstone Companies by 4.0% during the second quarter. Ritholtz Wealth Management now owns 33,954 shares of the insurance provider’s stock worth $523,000 after purchasing an additional 1,306 shares during the last quarter. NewEdge Advisors LLC raised its stake in Kingstone Companies by 9.2% during the first quarter. NewEdge Advisors LLC now owns 17,220 shares of the insurance provider’s stock worth $287,000 after purchasing an additional 1,448 shares during the period. MML Investors Services LLC boosted its holdings in shares of Kingstone Companies by 2.5% in the 2nd quarter. MML Investors Services LLC now owns 90,837 shares of the insurance provider’s stock valued at $1,400,000 after purchasing an additional 2,249 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Kingstone Companies by 15.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 18,763 shares of the insurance provider’s stock valued at $289,000 after purchasing an additional 2,488 shares during the last quarter. Institutional investors and hedge funds own 14.91% of the company’s stock.

Kingstone Companies Price Performance

NASDAQ:KINS opened at $16.24 on Wednesday. The business’s 50-day moving average is $16.13 and its two-hundred day moving average is $15.12. The firm has a market capitalization of $229.80 million, a PE ratio of 7.42 and a beta of 0.42. Kingstone Companies, Inc has a 12 month low of $13.08 and a 12 month high of $22.40.

Kingstone Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Wednesday, February 11th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, February 11th. Kingstone Companies’s dividend payout ratio (DPR) is presently 9.13%.

Analysts Set New Price Targets

KINS has been the subject of a number of research analyst reports. Zacks Research upgraded Kingstone Companies to a “hold” rating in a report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Kingstone Companies in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded Kingstone Companies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Kingstone Companies currently has an average rating of “Moderate Buy”.

About Kingstone Companies

Kingstone Companies, Inc is a publicly traded property and casualty insurance holding company whose primary focus lies in personal and commercial insurance products. Through its wholly owned subsidiary, Kingstone Insurance Company, the firm underwrites a broad portfolio of property and casualty lines, including private passenger auto, homeowners, inland marine, umbrella, and various small‐commercial coverage options. Distribution is handled predominantly through a network of independent agents, allowing Kingstone to maintain strong broker relationships and responsive service for policyholders.

The company was incorporated in Delaware in 2010 and commenced operations following the acquisition of Kingstone Insurance Company in early 2011.