Zacks Investment Research upgraded shares of Kingstone Companies (NASDAQ:KINS) from a strong sell rating to a hold rating in a research report sent to investors on Saturday, reports.

According to Zacks, “Kingstone Companies, Inc., formerly DCAP Group, Inc., is engaged in the ownership of an insurance company. The Company focuses on automobile, motorcycle and homeowners insurance and its customer base is primarily individuals rather than businesses. There are three Atlantic Insurance locations in eastern Pennsylvania. All of the Barry Scott, Atlantic Insurance and Accurate Agency locations are wholly owned by the Company. “

KINS has been the topic of several other reports. Boenning Scattergood set a $13.00 target price on Kingstone Companies and gave the company a buy rating in a research note on Monday, May 20th. ValuEngine upgraded Kingstone Companies from a hold rating to a buy rating in a research note on Thursday, August 1st.

Shares of Kingstone Companies stock opened at $7.94 on Friday. The stock’s fifty day simple moving average is $8.55. The company has a market capitalization of $84.68 million, a price-to-earnings ratio of 16.89 and a beta of 0.62. Kingstone Companies has a 12 month low of $7.50 and a 12 month high of $20.60. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.35.

Kingstone Companies (NASDAQ:KINS) last issued its quarterly earnings results on Thursday, August 8th. The insurance provider reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.25). The business had revenue of $34.61 million for the quarter, compared to the consensus estimate of $35.40 million. Kingstone Companies had a negative return on equity of 3.77% and a negative net margin of 2.03%. On average, research analysts anticipate that Kingstone Companies will post 0.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.063 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 3.17%. Kingstone Companies’s payout ratio is 85.11%.

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in shares of Kingstone Companies by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 344,389 shares of the insurance provider’s stock valued at $6,093,000 after purchasing an additional 18,770 shares during the period. Foundry Partners LLC grew its position in Kingstone Companies by 25.5% during the second quarter. Foundry Partners LLC now owns 437,877 shares of the insurance provider’s stock worth $3,788,000 after buying an additional 89,089 shares in the last quarter. Bank of New York Mellon Corp grew its position in Kingstone Companies by 9.6% during the fourth quarter. Bank of New York Mellon Corp now owns 46,465 shares of the insurance provider’s stock worth $822,000 after buying an additional 4,085 shares in the last quarter. BlackRock Inc. grew its position in Kingstone Companies by 2.2% during the fourth quarter. BlackRock Inc. now owns 486,762 shares of the insurance provider’s stock worth $8,610,000 after buying an additional 10,647 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in Kingstone Companies during the first quarter worth about $162,000. Institutional investors own 47.70% of the company’s stock.

About Kingstone Companies

Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to small businesses and individuals in New York. The company offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.

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