LPL Financial LLC Buys 45,686 Shares of Kingstone Companies, Inc $KINS

Key Points

• LPL Financial LLC increased its stake in Kingstone Companies by 62.8%, now owning approximately 0.86% of the company, valued at about $1.97 million.
• Kingstone Companies reported quarterly earnings of $0.75 EPS, surpassing estimates of $0.55 and achieving revenue of $59.8 million against an expected $45.2 million.
• Wall Street Zen downgraded Kingstone Companies from a "buy" to a "hold" rating, indicating a shift in analyst sentiment towards the stock.

LPL Financial LLC grew its stake in shares of Kingstone Companies, Inc (NASDAQ:KINS - Free Report) by 62.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,436 shares of the insurance provider's stock after acquiring an additional 45,686 shares during the period. LPL Financial LLC owned 0.86% of Kingstone Companies worth $1,972,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Kingstone Companies during the first quarter worth $39,000. Tower Research Capital LLC TRC lifted its position in shares of Kingstone Companies by 370.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,847 shares of the insurance provider's stock worth $43,000 after acquiring an additional 2,242 shares in the last quarter. State of Wyoming bought a new position in shares of Kingstone Companies in the fourth quarter worth $103,000. JPMorgan Chase & Co. increased its holdings in shares of Kingstone Companies by 8.1% in the fourth quarter. JPMorgan Chase & Co. now owns 11,042 shares of the insurance provider's stock worth $168,000 after purchasing an additional 823 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Kingstone Companies in the fourth quarter worth $211,000. Hedge funds and other institutional investors own 14.91% of the company's stock.

Insider Activity

In related news, Director Thomas Newgarden acquired 12,500 shares of Kingstone Companies stock in a transaction dated Tuesday, May 27th. The shares were purchased 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. This represents a 31.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.10% of the company's stock.

Analysts Set New Price Targets

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

Kingstone Companies Price Performance

KINS traded down $0.17 during trading on Friday, reaching $13.86. The stock had a trading volume of 183,119 shares, compared to its average volume of 248,835. The stock has a market cap of $195.98 million, a PE ratio of 6.93 and a beta of 0.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.47 and a current ratio of 0.46. Kingstone Companies, Inc has a one year low of $8.11 and a one year high of $22.40. The business has a 50-day moving average of $15.20 and a 200-day moving average of $16.11.

Kingstone Companies (NASDAQ:KINS - Get Free Report) last released its earnings results on Thursday, August 7th. The insurance provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The business had revenue of $59.80 million for the quarter, compared to analysts' expectations of $45.20 million. Kingstone Companies had a return on equity of 33.21% and a net margin of 14.84%. Kingstone Companies has set its FY 2025 guidance at 1.950-2.35 EPS. As a group, equities research analysts anticipate that Kingstone Companies, Inc will post 1.4 EPS for the current fiscal year.

Kingstone Companies Announces Dividend

The business also recently disclosed a -- dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 11th. Kingstone Companies's dividend payout ratio (DPR) is 10.00%.

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.