Angel Oak Capital Advisors LLC Sells 21,617 Shares of Kingstone Companies, Inc (NASDAQ:KINS)

Key Points

• Angel Oak Capital Advisors LLC reduced its stake in Kingstone Companies, Inc by 8.9%, holding 222,239 shares valued at approximately $3.7 million as of the latest SEC filing.
• Kingstone Companies reported a net margin of 14.84% and earnings per share of $0.75, surpassing estimates in its latest quarterly earnings results.
• Analysts have lowered Kingstone Companies' shares from a "buy" rating to a "hold" rating, indicating a shift in investment sentiment.

Angel Oak Capital Advisors LLC trimmed its holdings in Kingstone Companies, Inc (NASDAQ:KINS - Free Report) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,239 shares of the insurance provider's stock after selling 21,617 shares during the quarter. Kingstone Companies comprises 4.9% of Angel Oak Capital Advisors LLC's portfolio, making the stock its 4th largest holding. Angel Oak Capital Advisors LLC owned about 1.62% of Kingstone Companies worth $3,700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KINS. Renaissance Technologies LLC boosted its stake in Kingstone Companies by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 515,989 shares of the insurance provider's stock valued at $7,838,000 after purchasing an additional 69,400 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Kingstone Companies by 223.5% during the 4th quarter. Marshall Wace LLP now owns 282,181 shares of the insurance provider's stock valued at $4,286,000 after acquiring an additional 194,952 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kingstone Companies during the 4th quarter valued at $2,371,000. Dimensional Fund Advisors LP lifted its position in shares of Kingstone Companies by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 132,980 shares of the insurance provider's stock valued at $2,020,000 after acquiring an additional 14,551 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of Kingstone Companies by 62.8% during the 1st quarter. LPL Financial LLC now owns 118,436 shares of the insurance provider's stock valued at $1,972,000 after acquiring an additional 45,686 shares during the last quarter. 14.91% of the stock is owned by institutional investors.

Kingstone Companies Price Performance

Shares of NASDAQ:KINS traded down $0.28 on Wednesday, reaching $15.49. 94,456 shares of the company traded hands, compared to its average volume of 309,352. Kingstone Companies, Inc has a fifty-two week low of $8.02 and a fifty-two week high of $22.40. The company's 50 day moving average is $15.34 and its 200-day moving average is $16.25. The stock has a market capitalization of $217.01 million, a PE ratio of 7.76 and a beta of 0.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.47 and a quick ratio of 0.47.

Kingstone Companies (NASDAQ:KINS - Get Free Report) last released its earnings results on Thursday, August 7th. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The company had revenue of $59.80 million during the quarter, compared to analyst estimates of $45.20 million. Kingstone Companies had a return on equity of 36.24% and a net margin of 14.84%. As a group, analysts anticipate that Kingstone Companies, Inc will post 1.4 earnings per share for the current fiscal year.

Kingstone Companies Dividend Announcement

The firm also recently announced a -- dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be issued a $0.05 dividend. The ex-dividend date is Monday, August 11th. Kingstone Companies's dividend payout ratio is presently 10.00%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Kingstone Companies from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th.

Insider Activity

In related news, Director Thomas Newgarden purchased 12,500 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average cost of $16.77 per share, with a total value of $209,625.00. Following the completion of the purchase, the director owned 51,715 shares of the company's stock, valued at $867,260.55. The trade was a 31.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.10% of the stock is owned by insiders.

Kingstone Companies Company Profile

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.