Kingstone Companies (NASDAQ:KINS) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Kingstone Companies (NASDAQ:KINS) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other research analysts have also recently issued reports on the stock. Zacks Research raised shares of Kingstone Companies to a “hold” rating in a report on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Kingstone Companies in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Kingstone Companies Stock Performance

Shares of NASDAQ KINS opened at $15.90 on Friday. Kingstone Companies has a fifty-two week low of $13.08 and a fifty-two week high of $22.40. The company has a market cap of $224.99 million, a PE ratio of 7.26 and a beta of 0.42. The business has a 50-day simple moving average of $16.24 and a two-hundred day simple moving average of $15.13.

Kingstone Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, February 11th. Kingstone Companies’s dividend payout ratio is 9.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd acquired a new stake in Kingstone Companies during the 2nd quarter worth about $801,000. Squarepoint Ops LLC boosted its stake in shares of Kingstone Companies by 201.9% in the second quarter. Squarepoint Ops LLC now owns 101,757 shares of the insurance provider’s stock worth $1,568,000 after buying an additional 68,055 shares during the last quarter. Cincinnati Insurance Co. acquired a new stake in Kingstone Companies during the third quarter worth about $1,237,000. Panagora Asset Management Inc. purchased a new position in Kingstone Companies during the second quarter valued at approximately $1,476,000. Finally, American Century Companies Inc. raised its position in Kingstone Companies by 36.3% during the second quarter. American Century Companies Inc. now owns 220,470 shares of the insurance provider’s stock valued at $3,397,000 after acquiring an additional 58,661 shares in the last quarter. 14.91% of the stock is currently owned by institutional investors and hedge funds.

About Kingstone Companies

Kingstone Companies, Inc is a publicly traded property and casualty insurance holding company whose primary focus lies in personal and commercial insurance products. Through its wholly owned subsidiary, Kingstone Insurance Company, the firm underwrites a broad portfolio of property and casualty lines, including private passenger auto, homeowners, inland marine, umbrella, and various small‐commercial coverage options. Distribution is handled predominantly through a network of independent agents, allowing Kingstone to maintain strong broker relationships and responsive service for policyholders.

The company was incorporated in Delaware in 2010 and commenced operations following the acquisition of Kingstone Insurance Company in early 2011.