Kingstone Companies (NASDAQ:KINS) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Kingstone Companies (NASDAQ:KINS) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Kingstone Companies Stock Up 5.6 %

Shares of NASDAQ KINS opened at $15.96 on Wednesday. The company has a market capitalization of $197.09 million, a P/E ratio of 12.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.43 and a quick ratio of 0.43. The company has a 50 day simple moving average of $12.34 and a 200-day simple moving average of $8.87. Kingstone Companies has a 1 year low of $1.95 and a 1 year high of $17.77.

Kingstone Companies (NASDAQ:KINS) last posted its earnings results on Tuesday, November 12th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Kingstone Companies had a return on equity of 32.55% and a net margin of 10.60%. The company had revenue of $40.77 million during the quarter, compared to analysts’ expectations of $41.80 million. During the same quarter last year, the firm earned ($0.27) earnings per share. On average, equities research analysts predict that Kingstone Companies will post 1.4 earnings per share for the current year.

Insider Buying and Selling at Kingstone Companies

In related news, Director Carla D’andre purchased 4,000 shares of Kingstone Companies stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $10.98 per share, with a total value of $43,920.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at approximately $43,920. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kingstone Companies

A number of hedge funds have recently made changes to their positions in the stock. Evernest Financial Advisors LLC acquired a new position in Kingstone Companies during the third quarter worth $1,184,000. Dimensional Fund Advisors LP raised its holdings in shares of Kingstone Companies by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 109,172 shares of the insurance provider’s stock valued at $546,000 after buying an additional 7,320 shares during the period. Renaissance Technologies LLC lifted its stake in Kingstone Companies by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 369,389 shares of the insurance provider’s stock worth $1,847,000 after acquiring an additional 19,201 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in Kingstone Companies during the 3rd quarter worth about $1,658,000. Finally, Barclays PLC purchased a new position in Kingstone Companies during the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors own 14.91% of the company’s stock.

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.