Empowered Funds LLC bought a new position in shares of Kingstone Companies, Inc (NASDAQ:KINS – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 56,413 shares of the insurance provider’s stock, valued at approximately $1,074,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Corient Private Wealth LP bought a new position in Kingstone Companies during the 2nd quarter worth $476,000. Bank of America Corp DE purchased a new position in Kingstone Companies during the second quarter worth about $626,000. PDT Partners LLC purchased a new position in Kingstone Companies in the second quarter valued at about $778,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Kingstone Companies in the 2nd quarter worth approximately $1,002,000. Finally, Globeflex Capital L P bought a new stake in shares of Kingstone Companies during the second quarter valued at about $1,106,000. 14.91% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on KINS shares. Weiss Ratings upgraded shares of Kingstone Companies from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Wall Street Zen raised Kingstone Companies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Kingstone Companies currently has a consensus rating of “Moderate Buy”.
Kingstone Companies Stock Down 1.3%
Shares of NASDAQ KINS opened at $19.96 on Friday. The company has a market cap of $289.02 million, a P/E ratio of 8.25 and a beta of 0.44. Kingstone Companies, Inc has a 1 year low of $13.15 and a 1 year high of $20.90. The firm has a 50-day simple moving average of $19.87 and a two-hundred day simple moving average of $17.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.34 and a quick ratio of 0.34.
Kingstone Companies (NASDAQ:KINS – Get Free Report) last issued its earnings results on Thursday, August 6th. The insurance provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. The business had revenue of $65.85 million during the quarter, compared to analyst estimates of $71.70 million. Kingstone Companies had a return on equity of 30.78% and a net margin of 14.85%.Kingstone Companies has set its FY 2026 guidance at 2.200-2.900 EPS. Research analysts anticipate that Kingstone Companies, Inc will post 2.65 earnings per share for the current year.
Kingstone Companies announced that its board has initiated a stock buyback program on Tuesday, May 19th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Kingstone Companies Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Tuesday, August 11th were given a dividend of $0.06 per share. This is a boost from Kingstone Companies’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, August 11th. Kingstone Companies’s payout ratio is presently 9.92%.
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.
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