Kingstone Companies (NASDAQ:KINS) Cut to “Hold” at Wall Street Zen

Kingstone Companies (NASDAQ:KINS) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Kingstone Companies in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Kingstone Companies Stock Performance

Shares of KINS opened at $15.45 on Friday. The company has a market cap of $218.57 million, a price-to-earnings ratio of 7.05 and a beta of 0.42. The stock has a fifty day moving average price of $16.01 and a two-hundred day moving average price of $15.10. Kingstone Companies has a 52-week low of $13.08 and a 52-week high of $22.40.

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

Institutional Investors Weigh In On Kingstone Companies

Several institutional investors have recently modified their holdings of KINS. BNP Paribas Financial Markets boosted its stake in Kingstone Companies by 80.1% in the third quarter. BNP Paribas Financial Markets now owns 2,287 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 1,017 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Kingstone Companies in the 2nd quarter valued at $39,000. State of Alaska Department of Revenue bought a new position in shares of Kingstone Companies in the 4th quarter worth $45,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Kingstone Companies in the 2nd quarter worth $93,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Kingstone Companies during the second quarter worth $118,000. 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.