Kingstone Companies, Inc (NASDAQ:KINS) announced its quarterly earnings results on Thursday. The insurance provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.10, Briefing.com reports. The company had revenue of $16.95 million during the quarter, compared to analysts’ expectations of $17.30 million. Kingstone Companies had a net margin of 12.34% and a return on equity of 15.00%. The company’s revenue was up 12.9% compared to the same quarter last year.
Kingstone Companies (NASDAQ:KINS) opened at 15.85 on Friday. The stock has a market capitalization of $168.37 million, a PE ratio of 13.55 and a beta of 0.68. Kingstone Companies has a 12 month low of $8.83 and a 12 month high of $16.50. The stock has a 50 day moving average price of $15.82 and a 200 day moving average price of $14.87.
Several hedge funds have recently bought and sold shares of KINS. Royce & Associates LP increased its stake in Kingstone Companies by 24.3% in the second quarter. Royce & Associates LP now owns 607,511 shares of the insurance provider’s stock valued at $9,295,000 after buying an additional 118,741 shares in the last quarter. Cadence Capital Management LLC increased its stake in Kingstone Companies by 36.9% in the second quarter. Cadence Capital Management LLC now owns 102,258 shares of the insurance provider’s stock valued at $1,565,000 after buying an additional 27,554 shares in the last quarter. TIAA CREF Investment Management LLC bought a new stake in Kingstone Companies during the second quarter valued at $385,000. Bank of New York Mellon Corp increased its stake in Kingstone Companies by 245.2% in the second quarter. Bank of New York Mellon Corp now owns 34,796 shares of the insurance provider’s stock valued at $533,000 after buying an additional 24,715 shares in the last quarter. Finally, Teachers Advisors LLC bought a new stake in Kingstone Companies during the second quarter valued at $254,000. 40.02% of the stock is owned by hedge funds and other institutional investors.
KINS has been the subject of several recent research reports. Boenning Scattergood reiterated an “outperform” rating and issued a $17.00 price target on shares of Kingstone Companies in a research report on Monday, April 17th. ValuEngine upgraded Kingstone Companies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research cut Kingstone Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th.
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About Kingstone Companies
Kingstone Companies, Inc offers property and casualty insurance products to small businesses and individuals in New York State. The Company offers these products through its subsidiary, Kingstone Insurance Company (KICO). KICO is a licensed property and casualty insurance company. The Company operates through property and casualty insurances segment, which offers a range of property and casualty policies to its producers.
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