Kingstone Companies (NASDAQ:KINS) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Kingstone Companies (NASDAQ:KINS) posted its quarterly earnings data on Thursday. The insurance provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.61 by $0.12, FiscalAI reports. Kingstone Companies had a return on equity of 33.21% and a net margin of 14.84%.The firm had revenue of $55.65 million during the quarter, compared to the consensus estimate of $53.20 million.

Kingstone Companies Trading Up 0.1%

Shares of KINS traded up $0.02 during mid-day trading on Friday, reaching $14.84. The stock had a trading volume of 273,688 shares, compared to its average volume of 265,478. Kingstone Companies has a 52-week low of $10.52 and a 52-week high of $22.40. The firm has a market cap of $209.85 million, a price-to-earnings ratio of 7.42 and a beta of 0.47. The business’s fifty day moving average is $14.37 and its 200 day moving average is $15.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.46 and a quick ratio of 0.46.

Kingstone Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 11th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. Kingstone Companies’s payout ratio is presently 10.00%.

Hedge Funds Weigh In On Kingstone Companies

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Kingstone Companies by 125,492.8% during the 2nd quarter. Bank of America Corp DE now owns 104,242 shares of the insurance provider’s stock worth $1,606,000 after buying an additional 104,159 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Kingstone Companies by 201.9% in the second quarter. Squarepoint Ops LLC now owns 101,757 shares of the insurance provider’s stock valued at $1,568,000 after acquiring an additional 68,055 shares during the last quarter. MML Investors Services LLC grew its position in Kingstone Companies by 2.5% in the second quarter. MML Investors Services LLC now owns 90,837 shares of the insurance provider’s stock worth $1,400,000 after acquiring an additional 2,249 shares during the period. Man Group plc increased its stake in Kingstone Companies by 389.5% during the second quarter. Man Group plc now owns 85,787 shares of the insurance provider’s stock worth $1,322,000 after acquiring an additional 68,263 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Kingstone Companies by 62.2% during the first quarter. Goldman Sachs Group Inc. now owns 65,392 shares of the insurance provider’s stock worth $1,089,000 after acquiring an additional 25,074 shares during the last quarter. 14.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Kingstone Companies from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kingstone Companies in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Kingstone Companies Company Profile

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.