Kingstone Companies (NASDAQ:KINS) Rating Lowered to “Hold” at Wall Street Zen

Kingstone Companies (NASDAQ:KINS) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Kingstone Companies in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Kingstone Companies currently has a consensus rating of “Buy”.

Kingstone Companies Price Performance

Kingstone Companies stock opened at $15.45 on Friday. The firm has a market capitalization of $218.57 million, a price-to-earnings ratio of 7.05 and a beta of 0.42. The company’s 50 day simple moving average is $16.01 and its 200 day simple moving average is $15.10. Kingstone Companies has a fifty-two week low of $13.08 and a fifty-two week high of $22.40.

Kingstone Companies (NASDAQ:KINS) last issued its earnings results on Thursday, November 6th. The insurance provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.61 by $0.12. The firm had revenue of $55.65 million during the quarter, compared to the consensus estimate of $53.20 million. Kingstone Companies had a net margin of 15.68% and a return on equity of 33.69%. As a group, analysts predict that Kingstone Companies will post 1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Kingstone Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC lifted its position in Kingstone Companies by 43.5% in the 4th quarter. Sanctuary Advisors LLC now owns 63,550 shares of the insurance provider’s stock valued at $1,070,000 after acquiring an additional 19,264 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Kingstone Companies in the fourth quarter valued at about $45,000. Daytona Street Capital LLC acquired a new position in shares of Kingstone Companies during the fourth quarter worth about $934,000. Palisades Investment Partners LLC grew its holdings in shares of Kingstone Companies by 1.3% during the fourth quarter. Palisades Investment Partners LLC now owns 141,706 shares of the insurance provider’s stock worth $2,385,000 after buying an additional 1,882 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its holdings in shares of Kingstone Companies by 122.8% during the fourth quarter. FNY Investment Advisers LLC now owns 48,127 shares of the insurance provider’s stock worth $809,000 after buying an additional 26,527 shares in the last quarter. 14.91% of the stock is currently owned by institutional investors and hedge funds.

Kingstone Companies Company Profile

Kingstone Companies, Inc is a publicly traded property and casualty insurance holding company whose primary focus lies in personal and commercial insurance products. Through its wholly owned subsidiary, Kingstone Insurance Company, the firm underwrites a broad portfolio of property and casualty lines, including private passenger auto, homeowners, inland marine, umbrella, and various small‐commercial coverage options. Distribution is handled predominantly through a network of independent agents, allowing Kingstone to maintain strong broker relationships and responsive service for policyholders.

The company was incorporated in Delaware in 2010 and commenced operations following the acquisition of Kingstone Insurance Company in early 2011.