Kingsway Financial Services (NYSE:KFS) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Kingsway Financial Services from a "sell" rating to a "hold" rating in a report released on Saturday.
• Kingsway Financial's most recent earnings report showed a loss of ($0.13) earnings per share, with a negative return on equity of 51.10% and a net margin of -4.46%.
• Institutional investors have shown increased interest, with JPMorgan Chase & Co. boosting its position in the company by 63.4% during the fourth quarter.

Kingsway Financial Services (NYSE:KFS - Get Free Report) TSE: KFS was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Kingsway Financial Services Stock Performance

Shares of KFS stock traded up $0.24 during trading hours on Friday, reaching $14.06. 3,845 shares of the company traded hands, compared to its average volume of 59,220. Kingsway Financial Services has a 12-month low of $7.06 and a 12-month high of $16.80. The company has a quick ratio of 0.41, a current ratio of 0.54 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $14.15 and a 200 day moving average price of $10.52.

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

Insider Buying and Selling

In related news, Director Joseph Stilwell sold 128,243 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $14.03, for a total value of $1,799,249.29. Following the transaction, the director directly owned 487,713 shares of the company's stock, valued at approximately $6,842,613.39. The trade was a 20.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 697 shares of company stock valued at $10,003. 54.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in Kingsway Financial Services by 66.2% in the 2nd quarter. Legal & General Group Plc now owns 2,009 shares of the insurance provider's stock worth $27,000 after purchasing an additional 800 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Kingsway Financial Services by 110.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,851 shares of the insurance provider's stock worth $25,000 after purchasing an additional 972 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Kingsway Financial Services by 9.5% in the 1st quarter. Private Advisor Group LLC now owns 13,362 shares of the insurance provider's stock worth $106,000 after purchasing an additional 1,154 shares in the last quarter. Greenhaven Road Investment Management L.P. lifted its holdings in Kingsway Financial Services by 0.3% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 511,060 shares of the insurance provider's stock worth $4,278,000 after purchasing an additional 1,769 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Kingsway Financial Services by 10.2% during the 4th quarter. Barclays PLC now owns 20,126 shares of the insurance provider's stock worth $169,000 after acquiring an additional 1,857 shares in the last quarter. 72.38% of the stock is owned by hedge funds and other institutional investors.

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.