Zacks Investment Research downgraded shares of Kingstone Companies (NASDAQ:KINS) from a buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Kingstone Companies, Inc., formerly DCAP Group, Inc., is engaged in the ownership of an insurance company. The Company focuses on automobile, motorcycle and homeowners insurance and its customer base is primarily individuals rather than businesses. There are three Atlantic Insurance locations in eastern Pennsylvania. All of the Barry Scott, Atlantic Insurance and Accurate Agency locations are wholly owned by the Company. “
Separately, ValuEngine upgraded shares of Kingstone Companies from a hold rating to a buy rating in a research note on Saturday, February 3rd.
Shares of Kingstone Companies (KINS) opened at $19.90 on Wednesday. Kingstone Companies has a 12 month low of $13.96 and a 12 month high of $21.70. The firm has a market cap of $213.06, a PE ratio of 19.85 and a beta of 0.84.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a $0.10 dividend. This is a boost from Kingstone Companies’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.40 annualized dividend and a yield of 2.01%. Kingstone Companies’s payout ratio is 31.37%.
Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in Kingstone Companies by 132.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,741 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 4,412 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Kingstone Companies by 300.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,098 shares of the insurance provider’s stock worth $139,000 after purchasing an additional 6,825 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Kingstone Companies in the 2nd quarter worth about $148,000. Millennium Management LLC acquired a new stake in Kingstone Companies in the 4th quarter worth about $198,000. Finally, Eqis Capital Management Inc. acquired a new stake in Kingstone Companies in the 4th quarter worth about $200,000. Institutional investors and hedge funds own 50.47% of the company’s stock.
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Kingstone Companies Company Profile
Kingstone Companies, Inc offers property and casualty insurance products to small businesses and individuals in New York State. The Company offers these products through its subsidiary, Kingstone Insurance Company (KICO). KICO is a licensed property and casualty insurance company. The Company operates through property and casualty insurances segment, which offers a range of property and casualty policies to its producers.
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