Kingstone Companies (NASDAQ:KINS) Rating Lowered to “Hold” at 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 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 for the company.

Kingstone Companies Stock Down 2.8 %

Shares of NASDAQ KINS traded down $0.35 during midday trading on Tuesday, hitting $11.95. 137,975 shares of the company’s stock were exchanged, compared to its average volume of 80,232. The company has a market cap of $132.17 million, a PE ratio of 28.45 and a beta of 0.55. Kingstone Companies has a twelve month low of $1.95 and a twelve month high of $12.81. The firm’s fifty day simple moving average is $9.71 and its 200-day simple moving average is $7.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.37 and a quick ratio of 0.37.

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

Institutional Investors Weigh In On Kingstone Companies

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Kingstone Companies by 7.2% in 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 last quarter. Renaissance Technologies LLC grew its holdings 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 during the last quarter. Finally, Evernest Financial Advisors LLC acquired a new position in shares of Kingstone Companies in the 3rd quarter worth $1,184,000. Institutional investors and hedge funds own 14.91% of the company’s stock.

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.