ACR Alpine Capital Research LLC grew its position in shares of Kingstone Companies, Inc. (NASDAQ:KINS) by 20.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 208,452 shares of the insurance provider’s stock after purchasing an additional 35,400 shares during the quarter. Kingstone Companies makes up 0.2% of ACR Alpine Capital Research LLC’s holdings, making the stock its 19th biggest holding. ACR Alpine Capital Research LLC owned approximately 1.96% of Kingstone Companies worth $3,398,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Kingstone Companies in the second quarter worth approximately $139,000. JPMorgan Chase & Co. lifted its stake in shares of Kingstone Companies by 300.3% in the second quarter. JPMorgan Chase & Co. now owns 9,098 shares of the insurance provider’s stock worth $139,000 after acquiring an additional 6,825 shares during the period. New York State Common Retirement Fund acquired a new position in shares of Kingstone Companies in the second quarter worth approximately $148,000. Eagle Global Advisors LLC lifted its stake 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 acquiring an additional 2,468 shares during the period. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Kingstone Companies in the second quarter worth approximately $225,000. 47.41% of the stock is currently owned by hedge funds and other institutional investors.
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Kingstone Companies (NASDAQ:KINS) last issued its earnings results on Thursday, November 9th. The insurance provider reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.06. The business had revenue of $21.50 million during the quarter, compared to the consensus estimate of $22.15 million. Kingstone Companies had a return on equity of 17.75% and a net margin of 16.55%. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. sell-side analysts expect that Kingstone Companies, Inc. will post 1.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 1.75%. Kingstone Companies’s payout ratio is currently 31.37%.
A number of equities analysts recently commented on KINS shares. Zacks Investment Research lowered Kingstone Companies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Boenning Scattergood reaffirmed a “buy” rating on shares of Kingstone Companies in a research note on Friday, August 11th.
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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