Kingstone Companies, Inc (NASDAQ:KINS) Sees Large Drop in Short Interest

Kingstone Companies, Inc (NASDAQ:KINS) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 420,799 shares, a decrease of 13.7% from the January 29th total of 487,432 shares. Based on an average daily trading volume, of 156,938 shares, the short-interest ratio is currently 2.7 days. Currently, 3.1% of the company’s stock are short sold. Currently, 3.1% of the company’s stock are short sold. Based on an average daily trading volume, of 156,938 shares, the short-interest ratio is currently 2.7 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Deutsche Bank AG boosted its stake in shares of Kingstone Companies by 8.0% during the fourth quarter. Deutsche Bank AG now owns 10,738 shares of the insurance provider’s stock worth $181,000 after buying an additional 797 shares during the period. Strs Ohio raised its stake in Kingstone Companies by 2.5% during the 3rd quarter. Strs Ohio now owns 33,400 shares of the insurance provider’s stock valued at $491,000 after acquiring an additional 800 shares during the last quarter. First Trust Advisors LP lifted its position in Kingstone Companies by 2.5% during the 4th quarter. First Trust Advisors LP now owns 37,121 shares of the insurance provider’s stock worth $625,000 after acquiring an additional 915 shares during the period. Man Group plc grew its stake in shares of Kingstone Companies by 6.8% in the 4th quarter. Man Group plc now owns 14,394 shares of the insurance provider’s stock valued at $242,000 after purchasing an additional 922 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Kingstone Companies by 0.6% in the fourth quarter. State Street Corp now owns 160,604 shares of the insurance provider’s stock valued at $2,703,000 after purchasing an additional 932 shares during the period. 14.91% of the stock is currently owned by institutional investors and hedge funds.

Kingstone Companies Price Performance

Kingstone Companies stock opened at $16.22 on Friday. The stock has a market cap of $229.46 million, a PE ratio of 7.41 and a beta of 0.42. The stock’s fifty day moving average is $16.15 and its two-hundred day moving average is $15.20. Kingstone Companies has a 1-year low of $13.08 and a 1-year high of $22.40.

Kingstone Companies (NASDAQ:KINS) last released its quarterly earnings data on Friday, March 6th. The insurance provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. Kingstone Companies had a net margin of 15.68% and a return on equity of 33.69%. The company had revenue of $56.42 million for the quarter, compared to analysts’ expectations of $83.00 million. On average, research analysts expect that Kingstone Companies will post 1.4 earnings per share for the current fiscal year.

Kingstone Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 11th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. Kingstone Companies’s dividend payout ratio is currently 9.13%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Zacks Research raised Kingstone Companies to a “hold” rating in a research report on Friday, February 6th. Wall Street Zen raised Kingstone Companies from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Kingstone Companies in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Kingstone Companies presently has an average rating of “Moderate Buy”.

Kingstone Companies Company Profile

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.