Kingsway Financial Services (NYSE:KFS) Posts 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 issued its quarterly earnings data on Thursday. The insurance provider reported ($0.13) earnings per share for the quarter, Zacks reports. Kingsway Financial Services had a negative return on equity of 51.10% and a negative net margin of 4.46%.

Kingsway Financial Services Stock Down 3.3%

Kingsway Financial Services stock traded down $0.46 during midday trading on Friday, reaching $13.45. The company's stock had a trading volume of 48,980 shares, compared to its average volume of 48,386. The stock's 50-day simple moving average is $14.11 and its 200-day simple moving average is $10.42. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.85. Kingsway Financial Services has a 52-week low of $7.06 and a 52-week high of $16.80.

Insider Buying and Selling

In other Kingsway Financial Services news, Director Joseph Stilwell sold 32,978 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $13.90, for a total value of $458,394.20. Following the completion of the sale, the director directly owned 481,817 shares in the company, valued at approximately $6,697,256.30. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought 697 shares of company stock valued at $10,003 in the last three months. Company insiders own 53.83% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in 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 worth $103,000 after acquiring an additional 3,300 shares during the period. Jane Street Group LLC acquired a new stake in Kingsway Financial Services during the first quarter worth about $149,000. Goldman Sachs Group Inc. grew its holdings in 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 worth $811,000 after acquiring an additional 10,350 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Kingsway Financial Services by 20.2% during the second quarter. Geode Capital Management LLC now owns 426,836 shares of the insurance provider's stock worth $5,780,000 after acquiring an additional 71,720 shares during the period. 72.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Kingsway Financial Services Company Profile

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.

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