Kingstone Companies (KINS) Given “Buy” Rating at Boenning Scattergood

Boenning Scattergood reissued their buy rating on shares of Kingstone Companies (NASDAQ:KINS) in a report released on Thursday morning. They currently have a $20.00 target price on the insurance provider’s stock.

“We did not project any catastrophe losses, nor did we assume any reserve development; the press release did not mention any reserve development. If that’s the case, the company’s normalized operating EPS missed our estimate by $0.07, largely due to a higher expense ratio.”,” the firm’s analyst commented.

Separately, Zacks Investment Research lowered Kingstone Companies from a hold rating to a strong sell rating in a research report on Saturday, July 21st.

Shares of Kingstone Companies traded down $0.10, hitting $16.90, during midday trading on Thursday, according to MarketBeat Ratings. The company’s stock had a trading volume of 17,382 shares, compared to its average volume of 17,624. Kingstone Companies has a one year low of $13.20 and a one year high of $21.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $181.22 million, a price-to-earnings ratio of 17.98 and a beta of 1.02.

Kingstone Companies (NASDAQ:KINS) last issued its quarterly earnings results on Thursday, August 9th. The insurance provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.07). Kingstone Companies had a net margin of 5.83% and a return on equity of 7.09%. The business had revenue of $27.55 million during the quarter, compared to the consensus estimate of $29.70 million. research analysts forecast that Kingstone Companies will post 0.8 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.37%. Kingstone Companies’s dividend payout ratio is currently 42.55%.

A number of hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. grew its position in Kingstone Companies by 28.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,144 shares of the insurance provider’s stock worth $266,000 after acquiring an additional 3,159 shares during the last quarter. Wells Fargo & Company MN grew its position in Kingstone Companies by 5.0% during the 1st quarter. Wells Fargo & Company MN now owns 76,712 shares of the insurance provider’s stock worth $1,289,000 after acquiring an additional 3,666 shares during the last quarter. Salzhauer Michael grew its position in Kingstone Companies by 9.8% during the 2nd quarter. Salzhauer Michael now owns 64,989 shares of the insurance provider’s stock worth $1,098,000 after acquiring an additional 5,785 shares during the last quarter. Globeflex Capital L P grew its position in Kingstone Companies by 14.8% during the 2nd quarter. Globeflex Capital L P now owns 45,700 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 5,900 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Kingstone Companies during the 1st quarter worth $123,000. Institutional investors and hedge funds own 50.38% of the company’s stock.

About Kingstone Companies

Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to small businesses and individuals in New York. The company provides personal lines insurance products, such as homeowners and dwelling fire multi-peril, cooperative/condominium, renter, and personal umbrella policies.

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