Kingsway Financial Services (NYSE:KFS) Releases Earnings Results

Key Points

• Kingsway Financial Services reported a quarterly loss of ($0.13) earnings per share with a negative return on equity of 51.10%.
• The company's stock declined 3.3% on Friday, trading at $13.45, with a 52-week range of $7.06 to $16.80.
• Insider ownership is significant, with insiders holding 53.83% of the company's stock, despite some recent selling activity by director Joseph Stilwell.

Kingsway Financial Services (NYSE:KFS - Get Free Report) TSE: KFS posted its earnings results on Thursday, August 7th. The insurance provider reported ($0.13) EPS for the quarter, Zacks reports. Kingsway Financial Services had a negative return on equity of 40.69% and a negative net margin of 4.46%.

Kingsway Financial Services Trading Down 3.5%

KFS stock traded down $0.50 during midday trading on Thursday, reaching $13.73. 38,057 shares of the company traded hands, compared to its average volume of 48,801. Kingsway Financial Services has a 52-week low of $7.06 and a 52-week high of $16.80. The company has a current ratio of 0.54, a quick ratio of 0.41 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average of $14.19 and a 200-day moving average of $10.59.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Kingsway Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th.

Insider Transactions at Kingsway Financial Services

In other Kingsway Financial Services news, Director Joseph Stilwell sold 32,978 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $13.90, for a total transaction of $458,394.20. Following the sale, the director directly owned 481,817 shares in the company, valued at $6,697,256.30. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased 697 shares of company stock worth $10,003 in the last quarter. Corporate insiders own 53.83% of the company's stock.

Institutional Investors Weigh In On Kingsway Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in Kingsway Financial Services by 66.2% during the second quarter. Legal & General Group Plc now owns 2,009 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 800 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Kingsway Financial Services by 27.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,924 shares of the insurance provider's stock valued at $134,000 after purchasing an additional 2,132 shares during the period. Bank of America Corp DE grew its stake in shares of Kingsway Financial Services by 36.5% during the fourth quarter. Bank of America Corp DE now owns 12,334 shares of the insurance provider's stock valued at $103,000 after buying an additional 3,300 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Kingsway Financial Services by 11.2% during the first quarter. Goldman Sachs Group Inc. now owns 102,386 shares of the insurance provider's stock valued at $811,000 after buying an additional 10,350 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Kingsway Financial Services by 149.4% during the second quarter. Rhumbline Advisers now owns 25,754 shares of the insurance provider's stock valued at $349,000 after buying an additional 15,427 shares during the last quarter. 72.38% of the stock is currently owned by hedge funds and other institutional investors.

About Kingsway Financial Services

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.