Kingstone Companies (NASDAQ:KINS) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Kingstone Companies (NASDAQ:KINS) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Kingstone Companies in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy”.

Kingstone Companies Stock Up 1.4%

NASDAQ KINS opened at $15.45 on Friday. Kingstone Companies has a fifty-two week low of $13.08 and a fifty-two week high of $22.40. The business has a fifty day moving average of $16.01 and a 200-day moving average of $15.11. The stock has a market cap of $218.62 million, a price-to-earnings ratio of 7.05 and a beta of 0.42.

Kingstone Companies (NASDAQ:KINS) last posted its quarterly earnings data on Thursday, November 6th. The insurance provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Kingstone Companies had a return on equity of 33.69% and a net margin of 15.68%.The business had revenue of $55.65 million for the quarter, compared to analyst estimates of $53.20 million. As a group, analysts anticipate that Kingstone Companies will post 1.4 EPS for the current year.

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 given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. Kingstone Companies’s dividend payout ratio (DPR) is currently 9.13%.

Hedge Funds Weigh In On Kingstone Companies

Large investors have recently bought and sold shares of the stock. Millennium Management LLC grew its stake in shares of Kingstone Companies by 484.9% during the 1st quarter. Millennium Management LLC now owns 285,834 shares of the insurance provider’s stock valued at $4,759,000 after buying an additional 236,968 shares during the period. De Lisle Partners LLP boosted its holdings in Kingstone Companies by 179.5% in the second quarter. De Lisle Partners LLP now owns 267,488 shares of the insurance provider’s stock valued at $4,120,000 after acquiring an additional 171,778 shares during the last quarter. Geode Capital Management LLC grew its position in Kingstone Companies by 130.9% during the second quarter. Geode Capital Management LLC now owns 253,624 shares of the insurance provider’s stock valued at $3,909,000 after acquiring an additional 143,806 shares during the period. Bank of America Corp DE increased its stake in Kingstone Companies by 125,492.8% during the second quarter. Bank of America Corp DE now owns 104,242 shares of the insurance provider’s stock worth $1,606,000 after acquiring an additional 104,159 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in Kingstone Companies during the second quarter worth about $1,476,000. Hedge funds and other institutional investors own 14.91% of the company’s stock.

Kingstone Companies Company Profile

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.