United Asset Strategies Inc. Sells 4,972 Shares of Kingstone Companies, Inc (KINS)
United Asset Strategies Inc. cut its position in Kingstone Companies, Inc (NASDAQ:KINS) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 90,304 shares of the insurance provider’s stock after selling 4,972 shares during the period. United Asset Strategies Inc.’s holdings in Kingstone Companies were worth $1,382,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Global Advisors LLC increased its position in shares of Kingstone Companies by 23.2% in the second quarter. Eagle Global Advisors LLC now owns 13,108 shares of the insurance provider’s stock worth $201,000 after buying an additional 2,468 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Kingstone Companies during the second quarter worth about $225,000. Finally, Salzhauer Michael increased its position in shares of Kingstone Companies by 6.0% in the second quarter. Salzhauer Michael now owns 66,800 shares of the insurance provider’s stock worth $1,022,000 after buying an additional 3,800 shares in the last quarter. Institutional investors own 40.02% of the company’s stock.
Shares of Kingstone Companies, Inc (NASDAQ KINS) opened at 14.90 on Friday. Kingstone Companies, Inc has a 12 month low of $8.83 and a 12 month high of $16.50. The stock’s 50 day moving average is $15.80 and its 200 day moving average is $14.89. The stock has a market cap of $158.27 million, a P/E ratio of 14.26 and a beta of 0.68.
Kingstone Companies (NASDAQ:KINS) last issued its quarterly earnings data on Thursday, August 10th. The insurance provider reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.10. Kingstone Companies had a net margin of 11.52% and a return on equity of 13.91%. The firm had revenue of $16.95 million during the quarter, compared to analyst estimates of $17.30 million. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts predict that Kingstone Companies, Inc will post $1.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.15%. The ex-dividend date is Tuesday, August 29th. Kingstone Companies’s dividend payout ratio (DPR) is 29.91%.
KINS has been the subject of a number of recent research reports. Boenning Scattergood reiterated a “buy” rating on shares of Kingstone Companies in a research note on Friday. Zacks Investment Research upgraded shares of Kingstone Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded shares of Kingstone Companies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 6th.
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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