In a report released today, Robert Farnam from Boenning & Scattergood maintained a Buy rating on Kingstone Companies Inc (NASDAQ: KINS), with a price target of $20.50. The company’s shares closed yesterday at $17.40.
Farnam noted:
“We had conservatively estimated $0.65 per share of catastrophe losses (36.5 points). Excluding the catastrophe losses and minor favorable reserve development, core operating results missed by $0.07 due to a higher accident year loss ratio and expense ratio.”
According to TipRanks.com, Farnam is a 1-star analyst with an average return of -1.4% and a 50.0% success rate. Farnam covers the Financial sector, focusing on stocks such as Hallmark Financial Services, Selective Insurance Group, and The Navigators Group.
Kingstone Companies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $21.25.
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Kingstone Companies Inc’s market cap is currently $185M and has a P/E ratio of 18.51. The company has a Price to Book ratio of 1.96.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KINS in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Kingstone Cos., Inc. is a holding company, which engages in the provision of a wide array of property and casualty insurance policies to individuals and small businesses through its wholly owned subsidiary, Kingstone Insurance Company. The company was founded in 1886 and is headquartered in Kingston, NY.
