Globeflex Capital L P Purchases Shares of 58,102 Kingstone Companies, Inc $KINS

Key Points

• Globeflex Capital purchased 58,102 Kingstone Companies shares worth approximately $1.1 million, while other institutional investors also increased their holdings; institutions collectively own 14.91% of the stock.
• Kingstone reported quarterly EPS of $1.04, beating estimates of $0.95, and raised its quarterly dividend from $0.05 to $0.06 per share, equivalent to a 1.2% annual yield.
• The company authorized a 1 million-share buyback, and analyst sentiment improved to a “Moderate Buy,” with recent upgrades from Weiss Ratings and Wall Street Zen.

Globeflex Capital L P purchased a new position in shares of Kingstone Companies, Inc (NASDAQ:KINS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 58,102 shares of the insurance provider's stock, valued at approximately $1,106,000. Globeflex Capital L P owned about 0.40% of Kingstone Companies as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Kingstone Companies by 484.9% during the 1st quarter. Millennium Management LLC now owns 285,834 shares of the insurance provider's stock valued at $4,759,000 after purchasing an additional 236,968 shares during the last quarter. NewEdge Advisors LLC lifted its position in Kingstone Companies by 9.2% in the 1st quarter. NewEdge Advisors LLC now owns 17,220 shares of the insurance provider's stock worth $287,000 after buying an additional 1,448 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 purchased a new stake in Kingstone Companies in the first quarter worth approximately $495,000. Finally, Geode Capital Management LLC grew its position 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 valued at $3,909,000 after acquiring an additional 143,806 shares during the last quarter. 14.91% of the stock is currently owned by hedge funds and other institutional investors.

Kingstone Companies Trading Up 1.3%

NASDAQ KINS opened at $20.09 on Tuesday. The firm has a market cap of $290.90 million, a PE ratio of 8.30 and a beta of 0.43. Kingstone Companies, Inc has a 1-year low of $13.08 and a 1-year high of $20.90. The stock has a 50-day moving average of $19.31 and a 200-day moving average of $17.00. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.03.

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

Kingstone Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Tuesday, August 11th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. This is an increase from Kingstone Companies's previous quarterly dividend of $0.05. Kingstone Companies's dividend payout ratio (DPR) is currently 9.92%.

Kingstone Companies declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 19th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

KINS has been the topic of several research reports. Weiss Ratings raised shares of Kingstone Companies from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday. Wall Street Zen raised shares of Kingstone Companies from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

Insider Buying and Selling

In other news, Director Thomas Newgarden purchased 8,000 shares of the company's stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $14.99 per share, with a total value of $119,920.00. Following the transaction, the director directly owned 99,366 shares of the company's stock, valued at approximately $1,489,496.34. This represents a 8.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding KINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kingstone Companies, Inc (NASDAQ:KINS - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source