Bank of New York Mellon Corp Buys Shares of 60,607 Kingstone Companies, Inc $KINS

Key Points

• Bank of New York Mellon initiated a position in Kingstone Companies by purchasing 60,607 shares valued at approximately $1.15 million, representing 0.42% of the insurer. Institutional investors collectively own 14.91% of KINS.
• Analyst sentiment remains positive, with recent upgrades contributing to a consensus “Moderate Buy” rating. Kingstone reported quarterly EPS of $1.04, beating estimates of $0.95, although revenue fell short of expectations.
• Kingstone increased its quarterly dividend to $0.06 per share, equivalent to a 1.2% annual yield, and authorized a buyback of up to 1 million shares.

Bank of New York Mellon Corp bought a new position in Kingstone Companies, Inc (NASDAQ:KINS - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 60,607 shares of the insurance provider's stock, valued at approximately $1,153,000. Bank of New York Mellon Corp owned 0.42% of Kingstone Companies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC raised its holdings in shares of Kingstone Companies by 484.9% in the first quarter. Millennium Management LLC now owns 285,834 shares of the insurance provider's stock valued at $4,759,000 after acquiring an additional 236,968 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Kingstone Companies by 9.2% during the first quarter. NewEdge Advisors LLC now owns 17,220 shares of the insurance provider's stock valued at $287,000 after buying an additional 1,448 shares during the period. Goldman Sachs Group Inc. raised its stake in Kingstone Companies by 62.2% in the first quarter. Goldman Sachs Group Inc. now owns 65,392 shares of the insurance provider's stock worth $1,089,000 after buying an additional 25,074 shares in the last quarter. Acadian Asset Management LLC bought a new position in Kingstone Companies in the first quarter worth approximately $495,000. Finally, Geode Capital Management LLC lifted its holdings in Kingstone Companies by 130.9% during the second quarter. Geode Capital Management LLC now owns 253,624 shares of the insurance provider's stock worth $3,909,000 after buying an additional 143,806 shares during the period. Institutional investors own 14.91% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KINS. Weiss Ratings upgraded Kingstone Companies from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, September 4th. Wall Street Zen upgraded Kingstone Companies from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 16th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

Kingstone Companies Stock Down 1.5%

KINS stock opened at $19.34 on Thursday. The stock has a market capitalization of $280.04 million, a PE ratio of 7.99 and a beta of 0.44. Kingstone Companies, Inc has a 52 week low of $13.18 and a 52 week high of $20.90. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $19.89 and a 200 day moving average of $17.33.

Kingstone Companies (NASDAQ:KINS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.95 by $0.09. The business had revenue of $65.85 million during the quarter, compared to the consensus estimate of $71.70 million. Kingstone Companies had a net margin of 14.85% and a return on equity of 30.78%. Kingstone Companies has set its FY 2026 guidance at 2.200-2.900 EPS. Sell-side analysts forecast that Kingstone Companies, Inc will post 2.65 earnings per share for the current year.

Kingstone Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.24 annualized dividend and a yield of 1.2%. This is an increase from Kingstone Companies's previous quarterly dividend of $0.05. Kingstone Companies's payout ratio is 9.92%.

Kingstone Companies announced that its board has approved a stock buyback program on Tuesday, May 19th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.