TCW Group Inc. trimmed its holdings in shares of Kingstone Companies, Inc (NASDAQ:KINS) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259,373 shares of the insurance provider’s stock after selling 52,700 shares during the period. TCW Group Inc. owned 2.44% of Kingstone Companies worth $4,228,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of KINS. Royce & Associates LP increased its stake in Kingstone Companies by 24.3% in the second quarter. Royce & Associates LP now owns 607,511 shares of the insurance provider’s stock valued at $9,295,000 after purchasing an additional 118,741 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Kingstone Companies in the second quarter valued at approximately $1,534,000. State Street Corp acquired a new position in Kingstone Companies during the second quarter worth $1,356,000. Northern Trust Corp raised its position in shares of Kingstone Companies by 485.9% in the second quarter. Northern Trust Corp now owns 94,653 shares of the insurance provider’s stock valued at $1,448,000 after purchasing an additional 78,497 shares during the period. Finally, Foundry Partners LLC raised its position in shares of Kingstone Companies by 25.7% in the third quarter. Foundry Partners LLC now owns 361,400 shares of the insurance provider’s stock valued at $5,891,000 after purchasing an additional 73,950 shares during the period. 47.41% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on KINS. Zacks Investment Research raised shares of Kingstone Companies from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday. Boenning Scattergood reissued a “buy” rating on shares of Kingstone Companies in a research report on Friday, August 11th.
Kingstone Companies, Inc (NASDAQ:KINS) traded up $0.10 during mid-day trading on Friday, reaching $18.35. 66,200 shares of the company’s stock traded hands, compared to its average volume of 65,020. Kingstone Companies, Inc has a 52-week low of $11.80 and a 52-week high of $18.70. The company has a market cap of $194.99, a price-to-earnings ratio of 18.07 and a beta of 0.77.
Kingstone Companies (NASDAQ:KINS) last posted its quarterly earnings results on Thursday, November 9th. The insurance provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The company had revenue of $21.50 million for the quarter, compared to the consensus estimate of $22.15 million. Kingstone Companies had a net margin of 11.59% and a return on equity of 12.28%. The firm’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. analysts anticipate that Kingstone Companies, Inc will post 1.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.74%. Kingstone Companies’s dividend payout ratio (DPR) is currently 31.37%.
Kingstone Companies Company Profile
Kingstone Companies, Inc offers property and casualty insurance products to small businesses and individuals in New York State. The Company offers these products through its subsidiary, Kingstone Insurance Company (KICO). KICO is a licensed property and casualty insurance company. The Company operates through property and casualty insurances segment, which offers a range of property and casualty policies to its producers.
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