Kingsway Financial Services (NYSE:KFS) Posts Quarterly Earnings Results

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) issued its earnings results on Thursday. The insurance provider reported ($0.10) earnings per share for the quarter, Zacks reports. Kingsway Financial Services had a negative net margin of 4.46% and a negative return on equity of 40.69%.

Kingsway Financial Services Stock Performance

NYSE KFS opened at $14.63 on Friday. Kingsway Financial Services has a 1-year low of $7.06 and a 1-year high of $16.80. The company has a market capitalization of $422.30 million, a P/E ratio of -91.41 and a beta of 0.23. The business has a 50 day moving average price of $14.55 and a 200 day moving average price of $13.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.54 and a quick ratio of 0.54.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KFS. Wall Street Zen upgraded shares of Kingsway Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kingsway Financial Services in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Insider Buying and Selling

In other news, Director Joseph Stilwell sold 48,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $14.47, for a total value of $694,560.00. Following the completion of the transaction, the director owned 457,181 shares in the company, valued at $6,615,409.07. This trade represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders acquired 1,201 shares of company stock worth $17,498 and sold 239,429 shares worth $3,409,173. Insiders own 54.75% of the company’s stock.

Institutional Investors Weigh In On Kingsway Financial Services

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in Kingsway Financial Services by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 426,836 shares of the insurance provider’s stock valued at $5,780,000 after acquiring an additional 71,720 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Kingsway Financial Services in the first quarter valued at approximately $149,000. Rhumbline Advisers increased its stake in shares of Kingsway Financial Services by 149.4% during the 2nd quarter. Rhumbline Advisers now owns 25,754 shares of the insurance provider’s stock worth $349,000 after purchasing an additional 15,427 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Kingsway Financial Services by 11.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 102,386 shares of the insurance provider’s stock worth $811,000 after purchasing an additional 10,350 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Kingsway Financial Services by 36.5% during the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 3,300 shares during the last quarter. 72.38% of the stock is owned by institutional investors and hedge funds.

Kingsway Financial Services Company Profile

Kingsway Financial Services Inc, through its subsidiaries, engages in the extended warranty and business services in the United States. The company operates through two segments, Extended Warranty and Kingsway Search Xcelerator. The Extended Warranty segment markets, sells, and administers vehicle service agreements and related products for new and used automobiles, motorcycles, and ATVs.