Kingstone Companies (NASDAQ:KINS) Share Price Passes Above 50 Day Moving Average – What’s Next?

Kingstone Companies, Inc (NASDAQ:KINS)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $15.35 and traded as high as $17.48. Kingstone Companies shares last traded at $17.09, with a volume of 112,768 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen downgraded Kingstone Companies from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Kingstone Companies in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Kingstone Companies Stock Performance

The company has a market cap of $241.82 million, a PE ratio of 7.80 and a beta of 0.42. The company has a 50 day simple moving average of $15.35 and a two-hundred day simple moving average of $14.94.

Kingstone Companies (NASDAQ:KINS) last posted its quarterly earnings results on Thursday, November 6th. The insurance provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Kingstone Companies had a net margin of 15.68% and a return on equity of 33.69%. The business had revenue of $55.65 million during the quarter, compared to analyst estimates of $53.20 million. As a group, analysts expect that Kingstone Companies, Inc will post 1.4 earnings per share for the current fiscal year.

Kingstone Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 11th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. Kingstone Companies’s dividend payout ratio is 9.13%.

Institutional Trading of Kingstone Companies

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Kingstone Companies by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 602,335 shares of the insurance provider’s stock worth $8,854,000 after purchasing an additional 42,058 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Kingstone Companies by 16.8% in the 2nd quarter. Marshall Wace LLP now owns 419,414 shares of the insurance provider’s stock valued at $6,463,000 after buying an additional 60,439 shares in the last quarter. Gator Capital Management LLC raised its position in Kingstone Companies by 9.9% during the third quarter. Gator Capital Management LLC now owns 296,750 shares of the insurance provider’s stock valued at $4,362,000 after acquiring an additional 26,821 shares in the last quarter. Millennium Management LLC raised its position in Kingstone Companies by 484.9% during the first quarter. Millennium Management LLC now owns 285,834 shares of the insurance provider’s stock valued at $4,759,000 after acquiring an additional 236,968 shares in the last quarter. Finally, De Lisle Partners LLP lifted its stake in Kingstone Companies by 179.5% in the second quarter. De Lisle Partners LLP now owns 267,488 shares of the insurance provider’s stock valued at $4,120,000 after acquiring an additional 171,778 shares during the last quarter. Institutional investors and hedge funds own 14.91% of the company’s stock.

About Kingstone Companies

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.