Kingstone Companies (NASDAQ:KINS) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Kingstone Companies (NASDAQ:KINS) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Kingstone Companies Trading Up 2.7 %

NASDAQ KINS opened at $14.27 on Wednesday. The stock has a market capitalization of $176.22 million, a P/E ratio of 10.98 and a beta of 0.71. Kingstone Companies has a 52-week low of $3.72 and a 52-week high of $19.18. The firm has a 50-day moving average price of $15.98 and a 200 day moving average price of $13.24. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.29.

Insider Buying and Selling

In related news, Director William L. Yankus sold 10,253 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $16.18, for a total transaction of $165,893.54. Following the completion of the transaction, the director now directly owns 91,834 shares of the company’s stock, valued at $1,485,874.12. This represents a 10.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 12.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in Kingstone Companies in the fourth quarter valued at about $26,000. Tower Research Capital LLC TRC increased its holdings in Kingstone Companies by 370.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,847 shares of the insurance provider’s stock valued at $43,000 after buying an additional 2,242 shares in the last quarter. Barclays PLC purchased a new position in Kingstone Companies in the third quarter valued at about $49,000. State of Wyoming purchased a new position in Kingstone Companies in the fourth quarter valued at about $103,000. Finally, JPMorgan Chase & Co. increased its holdings in Kingstone Companies by 53,684.2% in the third quarter. JPMorgan Chase & Co. now owns 10,219 shares of the insurance provider’s stock valued at $94,000 after buying an additional 10,200 shares in the last quarter. 14.91% of the stock is owned by hedge funds and other institutional investors.

About Kingstone Companies

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.