Q2 2018 EPS Estimates for Kingstone Companies Inc (KINS) Lifted by Analyst
Kingstone Companies Inc (NASDAQ:KINS) – Equities researchers at Boenning Scattergood boosted their Q2 2018 earnings per share estimates for Kingstone Companies in a report released on Thursday. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will earn $0.43 per share for the quarter, up from their prior forecast of $0.37. Boenning Scattergood also issued estimates for Kingstone Companies’ FY2019 earnings at $1.81 EPS.
Separately, Zacks Investment Research raised Kingstone Companies from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, November 14th.
Shares of Kingstone Companies (NASDAQ KINS) opened at $19.40 on Monday. Kingstone Companies has a 52 week low of $11.80 and a 52 week high of $19.60. The stock has a market capitalization of $205.09, a PE ratio of 19.02 and a beta of 0.77.
Kingstone Companies (NASDAQ:KINS) last issued its quarterly earnings results on Thursday, November 9th. The insurance provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.06. Kingstone Companies had a return on equity of 12.28% and a net margin of 11.59%. The firm had revenue of $21.50 million during the quarter, compared to analyst estimates of $22.15 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue was up 37.4% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a $0.08 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.65%. Kingstone Companies’s dividend payout ratio is currently 31.37%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new position in shares of Kingstone Companies in the second quarter worth about $1,534,000. Monarch Partners Asset Management LLC increased its holdings in shares of Kingstone Companies by 55.4% in the third quarter. Monarch Partners Asset Management LLC now owns 31,700 shares of the insurance provider’s stock worth $517,000 after buying an additional 11,300 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Kingstone Companies by 245.2% in the second quarter. Bank of New York Mellon Corp now owns 34,796 shares of the insurance provider’s stock worth $533,000 after buying an additional 24,715 shares during the period. Laurel Wealth Advisors Inc. increased its holdings in shares of Kingstone Companies by 9.8% in the second quarter. Laurel Wealth Advisors Inc. now owns 86,850 shares of the insurance provider’s stock worth $1,328,000 after buying an additional 7,730 shares during the period. Finally, ACR Alpine Capital Research LLC increased its holdings in shares of Kingstone Companies by 20.5% in the third quarter. ACR Alpine Capital Research LLC now owns 208,452 shares of the insurance provider’s stock worth $3,398,000 after buying an additional 35,400 shares during the period. Hedge funds and other institutional investors own 49.55% of the company’s stock.
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About Kingstone Companies
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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