Kingstone Companies (NASDAQ:KINS) Downgraded to Strong Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Kingstone Companies (NASDAQ:KINS) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Kingstone Companies, Inc., formerly DCAP Group, Inc., is engaged in the ownership of an insurance company. The Company focuses on automobile, motorcycle and homeowners insurance and its customer base is primarily individuals rather than businesses. There are three Atlantic Insurance locations in eastern Pennsylvania. All of the Barry Scott, Atlantic Insurance and Accurate Agency locations are wholly owned by the Company. “

Separately, ValuEngine raised Kingstone Companies from a buy rating to a strong-buy rating in a research report on Wednesday, October 2nd.

NASDAQ:KINS traded down $0.15 during mid-day trading on Wednesday, hitting $7.60. The company had a trading volume of 22,000 shares, compared to its average volume of 30,892. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.49 and a current ratio of 0.48. The business’s fifty day moving average is $8.37 and its two-hundred day moving average is $8.75. The firm has a market cap of $83.58 million, a P/E ratio of 16.17 and a beta of 0.64. Kingstone Companies has a fifty-two week low of $7.50 and a fifty-two week high of $18.74.

Kingstone Companies (NASDAQ:KINS) last released its quarterly earnings data on Tuesday, November 12th. The insurance provider reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.45). Kingstone Companies had a negative net margin of 6.03% and a negative return on equity of 10.93%. The business had revenue of $38.60 million during the quarter, compared to analyst estimates of $37.00 million. Equities analysts forecast that Kingstone Companies will post -0.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.063 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 3.32%. Kingstone Companies’s payout ratio is 53.19%.

In other Kingstone Companies news, insider Barry Goldstein acquired 5,950 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was bought at an average cost of $8.16 per share, with a total value of $48,552.00. Following the completion of the transaction, the insider now directly owns 613,876 shares in the company, valued at approximately $5,009,228.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 13,450 shares of company stock valued at $109,302. Insiders own 8.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Dedication LLC acquired a new stake in Kingstone Companies during the 2nd quarter worth approximately $26,000. Macquarie Group Ltd. acquired a new stake in Kingstone Companies during the 2nd quarter worth approximately $27,000. Hancock Whitney Corp lifted its holdings in Kingstone Companies by 18.4% during the 2nd quarter. Hancock Whitney Corp now owns 13,128 shares of the insurance provider’s stock worth $114,000 after purchasing an additional 2,040 shares during the last quarter. Integre Asset Management LLC lifted its holdings in Kingstone Companies by 65.7% during the 2nd quarter. Integre Asset Management LLC now owns 17,807 shares of the insurance provider’s stock worth $154,000 after purchasing an additional 7,060 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Kingstone Companies during the 3rd quarter worth approximately $206,000. 45.71% of the stock is owned by institutional investors.

About Kingstone Companies

Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to small businesses and individuals in New York. The company offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.

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