Kingstone Companies (KINS) Earns “Buy” Rating from Boenning Scattergood

Boenning Scattergood reiterated their buy rating on shares of Kingstone Companies (NASDAQ:KINS) in a research report released on Thursday morning. Boenning Scattergood currently has a $20.00 price target 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 wrote.

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



Shares of KINS traded down $0.10 during mid-day trading on Thursday, reaching $16.90. The company’s stock had a trading volume of 17,382 shares, compared to its average volume of 17,624. Kingstone Companies has a 1-year low of $13.20 and a 1-year high of $21.70. The stock has a market cap of $181.22 million, a price-to-earnings ratio of 17.98 and a beta of 1.02. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.33.

Kingstone Companies (NASDAQ:KINS) last released its quarterly earnings data on Thursday, August 9th. The insurance provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $29.70 million. analysts expect that Kingstone Companies will post 0.8 earnings per share for the current year.

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

Large investors have recently added to or reduced their stakes in the stock. Globeflex Capital L P raised its holdings in Kingstone Companies by 14.8% in the 2nd quarter. Globeflex Capital L P now owns 45,700 shares of the insurance provider’s stock valued at $772,000 after acquiring an additional 5,900 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Kingstone Companies by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 296,484 shares of the insurance provider’s stock valued at $5,011,000 after acquiring an additional 57,329 shares in the last quarter. BlackRock Inc. raised its holdings in Kingstone Companies by 4.0% in the 2nd quarter. BlackRock Inc. now owns 471,760 shares of the insurance provider’s stock valued at $7,973,000 after acquiring an additional 18,301 shares in the last quarter. Cadence Capital Management LLC raised its holdings in Kingstone Companies by 32.7% in the 2nd quarter. Cadence Capital Management LLC now owns 161,872 shares of the insurance provider’s stock valued at $2,736,000 after acquiring an additional 39,871 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in Kingstone Companies by 4.3% in the 2nd quarter. Royce & Associates LP now owns 378,657 shares of the insurance provider’s stock valued at $6,399,000 after acquiring an additional 15,500 shares in the last quarter. 50.38% of the stock is owned by institutional investors and hedge funds.

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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