Kingstone Companies (NASDAQ:KINS) Downgraded to “Hold” Rating by StockNews.com

Kingstone Companies (NASDAQ:KINS) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Kingstone Companies Trading Up 1.2 %

NASDAQ:KINS traded up $0.18 on Wednesday, reaching $15.56. 211,839 shares of the stock traded hands, compared to its average volume of 111,527. Kingstone Companies has a 1-year low of $1.95 and a 1-year high of $17.77. The company’s 50 day moving average is $12.08 and its 200-day moving average is $8.75. The firm has a market capitalization of $192.15 million, a price-to-earnings ratio of 11.97 and a beta of 0.71. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.29.

Kingstone Companies (NASDAQ:KINS) last issued its quarterly earnings results on Tuesday, November 12th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $40.77 million for the quarter, compared to analyst estimates of $41.80 million. Kingstone Companies had a return on equity of 32.55% and a net margin of 10.60%. During the same period in the previous year, the firm earned ($0.27) earnings per share. Equities research analysts anticipate that Kingstone Companies will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Carla D’andre purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $10.98 per share, with a total value of $43,920.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $43,920. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kingstone Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in KINS. Evernest Financial Advisors LLC purchased a new position in Kingstone Companies during the 3rd quarter valued at about $1,184,000. Dimensional Fund Advisors LP lifted its holdings in shares of 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. Renaissance Technologies LLC increased its stake in Kingstone Companies by 5.5% in the second quarter. Renaissance Technologies LLC now owns 369,389 shares of the insurance provider’s stock valued at $1,847,000 after acquiring an additional 19,201 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in Kingstone Companies during the third quarter worth about $1,658,000. Finally, Barclays PLC purchased a new position in shares of Kingstone Companies during the 3rd quarter valued at about $49,000. 14.91% of the stock is owned by hedge funds and other institutional investors.

About Kingstone Companies

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.