Kingstone Companies (NASDAQ:KINS) Releases Earnings Results, Beats Expectations By $0.12 EPS
Kingstone Companies (NASDAQ:KINS) reported quarterly earnings of $0.73 per share, exceeding analysts' expectations of $0.61 by $0.12. The company achieved a return on equity of 33.21% and a net margin of 14.84%, with revenues of $55.65 million, surpassing the estimated $53.20 million. Additionally, Kingstone announced a quarterly dividend of $0.05, payable on November 26th. Institutional investors have increased their stakes in the company, which has a market cap of $209.85 million and a P/E ratio of 7.42. Analysts have rated the stock as a "Hold."
Kingstone Companies (NASDAQ:KINS - Get Free Report) posted its earnings results on Thursday. The insurance provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12, FiscalAI reports. Kingstone Companies had a return on equity of 33.21% and a net margin of 14.84%.The firm had revenue of $55.65 million for the quarter, compared to analyst estimates of $53.20 million.
Get Kingstone Companies alerts:
Kingstone Companies Price Performance
- Fast-Growing Companies That Are Still Undervalued
Shares of KINS stock traded up $0.02 during trading hours on Friday, hitting $14.84. 273,688 shares of the company's stock were exchanged, compared to its average volume of 265,478. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.05. The firm has a market cap of $209.85 million, a P/E ratio of 7.42 and a beta of 0.47. The firm has a 50 day moving average of $14.37 and a two-hundred day moving average of $15.33. Kingstone Companies has a fifty-two week low of $10.52 and a fifty-two week high of $22.40.
Kingstone Companies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 11th will be given a $0.05 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. Kingstone Companies's payout ratio is 10.00%.
Institutional Investors Weigh In On Kingstone Companies
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings 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 purchasing an additional 236,968 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Kingstone Companies by 9.2% during the 1st quarter. NewEdge Advisors LLC now owns 17,220 shares of the insurance provider's stock worth $287,000 after purchasing an additional 1,448 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Kingstone Companies by 62.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 65,392 shares of the insurance provider's stock worth $1,089,000 after purchasing an additional 25,074 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Kingstone Companies in the 1st quarter valued at about $495,000. Finally, Geode Capital Management LLC boosted its holdings in Kingstone Companies by 130.9% in the 2nd quarter. Geode Capital Management LLC now owns 253,624 shares of the insurance provider's stock worth $3,909,000 after buying an additional 143,806 shares during the last quarter. Hedge funds and other institutional investors own 14.91% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Wall Street Zen lowered Kingstone Companies from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Weiss Ratings reissued a "hold (c+)" rating on shares of Kingstone Companies in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Kingstone Companies has a consensus rating of "Hold".
Check Out Our Latest Stock Analysis on Kingstone Companies
About Kingstone Companies
(Get Free Report)Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.
Featured Articles
- Five stocks we like better than Kingstone Companies
- What is an Earnings Surprise?
- Rivian’s Chart Says Go, But Some Analysts Still Say No
- Trading Halts Explained
- e.l.f. Sell-Off Is a Good Time to Buy, According to Analysts
- Insider Trades May Not Tell You What You Think
- T-Mobile Is The Most Oversold Mega-Cap Stock—Time to Buy?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Kingstone Companies Right Now?
Before you consider Kingstone Companies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kingstone Companies wasn't on the list.
While Kingstone Companies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
