Kingstone Companies (NASDAQ:KINS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “strong-buy” rating in a research report issued on Thursday. The brokerage currently has a $21.00 price target on the insurance provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 20.00% from the stock’s current price.
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. “
A number of other equities analysts have also weighed in on the stock. Boenning Scattergood set a $20.00 target price on shares of Kingstone Companies and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. ValuEngine upgraded shares of Kingstone Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 24th.
Shares of NASDAQ:KINS opened at $17.50 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. Kingstone Companies has a fifty-two week low of $13.20 and a fifty-two week high of $21.70. The firm has a market cap of $202.61 million, a P/E ratio of 18.62 and a beta of 1.08.
Kingstone Companies (NASDAQ:KINS) last issued its earnings results on Thursday, August 9th. The insurance provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.07). Kingstone Companies had a return on equity of 7.16% and a net margin of 5.83%. The company had revenue of $27.55 million for the quarter, compared to the consensus estimate of $29.70 million. Research analysts anticipate that Kingstone Companies will post 0.9 earnings per share for the current year.
In related news, Director Carla D’andre bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was purchased at an average price of $16.67 per share, for a total transaction of $33,340.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 6,000 shares of company stock valued at $100,720. 10.30% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Kingstone Companies by 35.6% during the first quarter. Dimensional Fund Advisors LP now owns 239,155 shares of the insurance provider’s stock valued at $4,018,000 after purchasing an additional 62,729 shares during the last quarter. First Trust Advisors LP bought a new position in Kingstone Companies during the second quarter valued at $176,000. Royce & Associates LP lifted its position in Kingstone Companies by 4.3% during the second quarter. Royce & Associates LP now owns 378,657 shares of the insurance provider’s stock valued at $6,399,000 after purchasing an additional 15,500 shares during the last quarter. Globeflex Capital L P lifted its position in Kingstone Companies by 14.8% during the second quarter. Globeflex Capital L P now owns 45,700 shares of the insurance provider’s stock valued at $772,000 after purchasing an additional 5,900 shares during the last quarter. Finally, Foundry Partners LLC lifted its position in Kingstone Companies by 2.7% during the first quarter. Foundry Partners LLC now owns 357,325 shares of the insurance provider’s stock valued at $6,003,000 after purchasing an additional 9,375 shares during the last quarter. Institutional investors and hedge funds own 50.81% of the company’s stock.
Kingstone Companies Company Profile
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 provides personal lines insurance products, such as homeowners and dwelling fire multi-peril, cooperative/condominium, renter, and personal umbrella policies.
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