Kingstone Companies (NASDAQ:KINS) Lowered to “Hold” Rating by 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 Tuesday.

Separately, Janney Montgomery Scott started coverage on Kingstone Companies in a research report on Tuesday, July 16th. They set a “buy” rating and a $6.50 target price on the stock.

Kingstone Companies Stock Performance

Shares of Kingstone Companies stock opened at $11.95 on Tuesday. The business has a 50-day moving average price of $9.71 and a two-hundred day moving average price of $7.25. Kingstone Companies has a 1-year low of $1.95 and a 1-year high of $12.81. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. The company has a market cap of $132.17 million, a P/E ratio of 28.45 and a beta of 0.55.

Kingstone Companies (NASDAQ:KINS) last issued its earnings results on Monday, August 12th. The insurance provider reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $36.50 million during the quarter, compared to the consensus estimate of $36.80 million. Kingstone Companies had a return on equity of 13.61% and a net margin of 3.74%. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, analysts anticipate that Kingstone Companies will post 1.36 EPS for the current year.

Institutional Trading of Kingstone Companies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Evernest Financial Advisors LLC bought a new stake in Kingstone Companies during the third quarter worth $1,184,000. Dimensional Fund Advisors LP boosted its holdings in Kingstone Companies by 7.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 109,172 shares of the insurance provider’s stock worth $546,000 after acquiring an additional 7,320 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Kingstone Companies by 5.5% in 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. 14.91% of the stock is owned by hedge funds and other institutional investors.

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.