Kingstone Companies, Inc (KINS) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its position in shares of Kingstone Companies, Inc (NASDAQ:KINS) by 245.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,796 shares of the insurance provider’s stock after acquiring an additional 24,715 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of Kingstone Companies worth $533,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of KINS. Salzhauer Michael boosted its position in Kingstone Companies by 6.0% during the second quarter. Salzhauer Michael now owns 66,800 shares of the insurance provider’s stock valued at $1,022,000 after acquiring an additional 3,800 shares during the last quarter. Eagle Global Advisors LLC boosted its position in Kingstone Companies by 23.2% during the second quarter. Eagle Global Advisors LLC now owns 13,108 shares of the insurance provider’s stock valued at $201,000 after acquiring an additional 2,468 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new stake in Kingstone Companies during the second quarter valued at $225,000. 46.84% of the stock is currently owned by institutional investors and hedge funds.
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A number of analysts have commented on the stock. Zacks Investment Research cut shares of Kingstone Companies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Boenning Scattergood reaffirmed a “buy” rating and set a $16.00 price target on shares of Kingstone Companies in a research report on Friday, July 14th.
Shares of Kingstone Companies, Inc (NASDAQ:KINS) opened at 16.80 on Monday. The company has a market cap of $178.58 million, a PE ratio of 16.08 and a beta of 0.77. The firm’s 50-day moving average is $15.97 and its 200-day moving average is $15.44. Kingstone Companies, Inc has a 12 month low of $10.00 and a 12 month high of $16.95.
Kingstone Companies (NASDAQ:KINS) last announced its quarterly earnings results on Thursday, August 10th. The insurance provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The firm had revenue of $16.95 million during the quarter, compared to the consensus estimate of $17.30 million. Kingstone Companies had a return on equity of 12.81% and a net margin of 11.52%. Kingstone Companies’s revenue was up 12.9% on a year-over-year basis. On average, equities research analysts predict that Kingstone Companies, Inc will post $1.10 earnings per share for the current year.
Kingstone Companies Company Profile
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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