Kingstone Companies (NASDAQ:KINS) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Kingstone Companies (NASDAQ:KINS) from a buy rating to a hold rating in a report released on Tuesday.

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

Kingstone Companies Price Performance

Shares of KINS stock traded down $0.02 during mid-day trading on Tuesday, reaching $10.78. The stock had a trading volume of 42,814 shares, compared to its average volume of 81,765. The company has a market cap of $119.23 million, a P/E ratio of 8.31 and a beta of 0.55. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. Kingstone Companies has a 12-month low of $1.95 and a 12-month high of $12.81. The business has a 50-day simple moving average of $9.76 and a 200 day simple moving average of $7.29.

Kingstone Companies (NASDAQ:KINS) last posted its earnings results on Tuesday, November 12th. The insurance provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. Kingstone Companies had a net margin of 10.60% and a return on equity of 37.53%. The firm had revenue of $40.77 million during the quarter, compared to the consensus estimate of $41.80 million. During the same period last year, the firm posted ($0.27) EPS. On average, sell-side analysts anticipate that Kingstone Companies will post 1.36 earnings per share for the current year.

Institutional Investors Weigh In On Kingstone Companies

Hedge funds have recently modified their holdings of the company. Evernest Financial Advisors LLC purchased a new position in shares of Kingstone Companies during the third quarter valued at approximately $1,184,000. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 7,320 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Kingstone Companies by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 369,389 shares of the insurance provider’s stock worth $1,847,000 after purchasing an additional 19,201 shares during the period. 14.91% of the stock is owned by institutional investors and hedge funds.

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.