Declared Dividend • Jul 27
First quarter dividend increased to US$0.06 Dividend of US$0.06 is 20% higher than last year. Ex-date: 11th August 2026 Payment date: 26th August 2026 Dividend yield will be 1.1%, which is lower than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (7% earnings payout ratio) and cash flows (5% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next year, which should provide support to the dividend and adequate earnings cover. 공고 • Jul 17
Kingstone Companies, Inc. to Report Q2, 2026 Results on Aug 06, 2026 Kingstone Companies, Inc. announced that they will report Q2, 2026 results After-Market on Aug 06, 2026 공고 • Jul 07
Kingstone Insurance Company Launches Ting Electrical Fire Prevention Program For New York Policyholders Kingstone Companies, Inc. announced a new loss-prevention initiative under which its principal operating subsidiary, Kingstone Insurance Company, will provide Ting smart sensors and three years of electrical fire prevention service at no cost to eligible New York homeowners insurance policyholders. The program, enabled through Kingstone’s new partnership with vipHomeLink, a homeowner engagement and prevention platform serving the insurance industry, reflects the Company’s continued focus on proactive risk management and policyholder engagement. The best claim is the one that never happens, both for the family involved and for the quality of book of business. By offering Ting at no cost through partnership with vipHomeLink, the company is helping homeowners identify hidden electrical fire hazards before they become devastating losses. The Ting program extends the disciplined approach to risk management that underpins Kingstone’s operating model. Alongside the Company’s focus on risk selection, rate adequacy, and claims execution, proactive loss prevention is intended to help reduce the frequency and severity of avoidable losses over time. Electrical fires and water-related damage are among the most common and costly homeowner perils, and Ting’s electrical fire hazard detection and frozen pipe alerts are designed to help address both. Ting is a plug-in sensor and fire prevention service from Whisker Labs designed to detect electrical fire hazards. Using advanced sensing and intelligence, Ting helps detect hidden electrical fire hazards that can originate from incoming power, plugged-in devices, wiring behind walls, and appliances. When a hazard is detected, Ting’s Fire Safety Team works directly with the homeowner to help resolve the problem. Ting also provides power outage and frozen pipe risk alerts, extending prevention beyond fire to help reduce other common and costly home risks. According to the National Fire Protection Association, an electrical fire occurs in a U.S. home approximately every 10 minutes. Whisker Labs reports that Ting helps prevent approximately four out of five electrical fires, is used by more than one million homeowners and, to date, has helped prevent more than 30,000 potentially devastating fires. Kingstone’s Ting program is expected to launch in July 2026. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$20.12, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Insurance industry in the US. Total returns to shareholders of 1,410% over the past three years. 실시간 뉴스 • Jul 01
Kingstone Finalizes $500 Million Catastrophe Reinsurance Program With Wildfire Coverage Kingstone Companies finalized its 2026/2027 catastrophe reinsurance program, with a $500 million loss limit, newly added wildfire coverage, and more than 34 reinsurers participating under improved terms.
The company reports that the risk-adjusted cost of its core catastrophe excess of loss coverage is over 15% lower, while it keeps relatively low first-event retentions for wildfire, named storm, and winter storm exposures.
Kingstone’s stock trades at $19.03, after rising 28.0% over the past 30 days.
This reinsurance placement reshapes Kingstone’s risk transfer profile, potentially affecting earnings volatility and capital needs in future catastrophe seasons. Investors will likely focus on how the broader coverage and lower risk-adjusted cost feed through to underwriting capacity and pricing decisions, and whether the large panel of reinsurers remains supportive if loss activity changes. Recent Insider Transactions • Jun 01
Independent Non-Executive Chairman recently bought US$213k worth of stock On the 29th of May, Thomas Newgarden bought around 14k shares on-market at roughly US$15.21 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$843k. Thomas has been a buyer over the last 12 months, purchasing a net total of US$653k worth in shares. 공고 • May 27
Kingstone Companies, Inc., Annual General Meeting, Aug 05, 2026 Kingstone Companies, Inc., Annual General Meeting, Aug 05, 2026. Major Estimate Revision • May 21
Consensus EPS estimates increase by 10%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from US$257.3m to US$254.0m. EPS estimate rose from US$2.30 to US$2.54. Net income forecast to grow 25% next year vs 1.0% growth forecast for Insurance industry in the US. Consensus price target of US$21.50 unchanged from last update. Share price rose 7.6% to US$15.99 over the past week. Recent Insider Transactions • May 14
Independent Non-Executive Chairman recently bought US$440k worth of stock On the 13th of May, Thomas Newgarden bought around 31k shares on-market at roughly US$14.44 per share. This transaction amounted to 56% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$843k. Thomas has been a buyer over the last 12 months, purchasing a net total of US$827k worth in shares. New Risk • May 11
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • May 11
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: US$0.40 loss per share (down from US$0.29 profit in 1Q 2025). Revenue: US$59.8m (up 23% from 1Q 2025). Net loss: US$5.81m (down 250% from profit in 1Q 2025). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 54%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has increased by 133% per year, which means it is tracking significantly ahead of earnings growth. 공고 • May 09
Kingstone Companies, Inc. Reaffirms Earnings Guidance for the Fiscal Year 2026 Kingstone Companies, Inc. reaffirmed earnings guidance for the fiscal year 2026. For the year, the company expected net income per share – diluted to be in the range of $2.20 to $2.90. Upcoming Dividend • May 04
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 11 May 2026. Payment date: 26 May 2026. Payout ratio is a comfortable 3.4% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (2.6%). 공고 • Apr 29
Kingstone Companies, Inc. Announces Quarterly Cash Dividend, Payable on May 26, 2026 Kingstone Companies, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.05 per share of common stock. The Company will pay the dividend on May 26, 2026, to stockholders of record at the close of business on May 11, 2026. Recent Insider Transactions Derivative • Apr 19
Independent Director notifies of intention to sell stock William Yankus intends to sell 14k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of April. If the sale is conducted around the recent share price of US$17.97, it would amount to US$243k. Since June 2025, William's direct individual holding has increased from 91.83k shares to 95.32k. Company insiders have collectively bought US$1.3m more than they sold, via options and on-market transactions, in the last 12 months. 공고 • Apr 17
Kingstone Companies, Inc. to Report Q1, 2026 Results on May 07, 2026 Kingstone Companies, Inc. announced that they will report Q1, 2026 results After-Market on May 07, 2026 Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$17.68, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Insurance industry in the US. Total returns to shareholders of 1,376% over the past three years. Recent Insider Transactions • Mar 15
Insider recently bought US$843k worth of stock On the 10th of March, Gregory Fortunoff bought around 54k shares on-market at roughly US$15.64 per share. This transaction amounted to 7.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$1.2m more in shares than they have sold in the last 12 months. Reported Earnings • Mar 08
Full year 2025 earnings released: EPS: US$2.93 (vs US$1.60 in FY 2024) Full year 2025 results: EPS: US$2.93 (up from US$1.60 in FY 2024). Revenue: US$212.9m (up 37% from FY 2024). Net income: US$40.8m (up 122% from FY 2024). Profit margin: 19% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Combined ratio: 75.0% (down from 80.0% in FY 2024). Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has increased by 125% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Mar 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. 공고 • Mar 06
Kingstone Companies, Inc. Updates Earnings Guidance for the Fiscal Year 2026 Kingstone Companies, Inc. updated earnings guidance for the fiscal year 2026. For the period, the company expects Net income per share – diluted to be in the range of $2.20 to $2.90. Upcoming Dividend • Feb 04
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 11 February 2026. Payment date: 26 February 2026. Payout ratio is a comfortable 2.1% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (2.5%). 공고 • Jan 30
Kingstone Companies, Inc. Announces Quarterly Cash Dividend, Payable on February 26, 2026 Kingstone Companies, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.05 per share of common stock. The Company will pay the dividend on February 26, 2026, to stockholders of record at the close of business on February 11, 2026. Reported Earnings • Nov 07
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$0.77 (up from US$0.61 in 3Q 2024). Revenue: US$55.7m (up 37% from 3Q 2024). Net income: US$10.9m (up 56% from 3Q 2024). Profit margin: 20% (up from 17% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 4.2%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 103% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Oct 18
Consensus revenue estimates decrease by 12%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$213.1m to US$187.5m. EPS estimate increased from US$2.23 to US$2.33 per share. Net income forecast to grow 23% next year vs 16% growth forecast for Insurance industry in the US. Consensus price target of US$22.00 unchanged from last update. Share price was steady at US$14.47 over the past week. 공고 • Oct 17
Kingstone Companies, Inc. to Report Q3, 2025 Results on Nov 06, 2025 Kingstone Companies, Inc. announced that they will report Q3, 2025 results After-Market on Nov 06, 2025 Major Estimate Revision • Sep 03
Consensus revenue estimates increase by 13% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from US$187.9m to US$213.1m. EPS estimate increased from US$2.10 to US$2.23 per share. Net income forecast to grow 21% next year vs 13% growth forecast for Insurance industry in the US. Consensus price target of US$22.00 unchanged from last update. Share price was steady at US$13.47 over the past week. Reported Earnings • Aug 10
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.81 (up from US$0.41 in 2Q 2024). Revenue: US$52.3m (up 43% from 2Q 2024). Net income: US$11.3m (up 149% from 2Q 2024). Profit margin: 22% (up from 12% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 42%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. 공고 • Aug 05
Kingstone Companies, Inc. Appoints Randy L. Patten as Chief Financial Officer, Effective August 25, 2025 Kingstone Companies, Inc. announced the appointment of Randy L. Patten as chief financial officer, effective August 25, 2025. Patten joins the Northeast regional property and casualty insurance holding company from NEXT Insurance Inc., where he served as vice president, chief accounting officer and treasurer. At NEXT Insurance, he participated in the company's $2.6 billion acquisition by ERGO Group AG, a subsidiary of MunichRe. Patten earned a Bachelor of Arts degree in accounting and business management from Central College in Iowa. As CFO, Patten will oversee Kingstone's finance organization, including GAAP and statutory accounting, financial planning and analysis, capital management, compliance, SEC filings coordination, tax, investor relations, investments and treasury functions. Upcoming Dividend • Aug 04
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 11 August 2025. Payment date: 26 August 2025. The company last paid an ordinary dividend in August 2014. The average dividend yield among industry peers is 2.1%. 공고 • Jul 18
Kingstone Companies, Inc. to Report Q2, 2025 Results on Aug 07, 2025 Kingstone Companies, Inc. announced that they will report Q2, 2025 results After-Market on Aug 07, 2025 공고 • Jun 27
Kingstone Companies, Inc., Annual General Meeting, Aug 06, 2025 Kingstone Companies, Inc., Annual General Meeting, Aug 06, 2025. Price Target Changed • May 28
Price target increased by 22% to US$22.00 Up from US$18.00, the current price target is provided by 1 analyst. New target price is 34% above last closing price of US$16.43. Stock is up 232% over the past year. The company is forecast to post earnings per share of US$2.10 for next year compared to US$1.60 last year. Recent Insider Transactions • May 21
Independent Director recently sold US$87k worth of stock On the 16th of May, Carla D'Andre sold around 5k shares on-market at roughly US$17.47 per share. This transaction amounted to 5.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$79k more than they bought in the last 12 months. Recent Insider Transactions Derivative • May 18
Independent Director notifies of intention to sell stock William Yankus intends to sell 15k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of May. If the sale is conducted around the recent share price of US$17.20, it would amount to US$258k. Since June 2024, William's direct individual holding has increased from 77.20k shares to 91.83k. Company insiders have collectively bought US$8.6k more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$17.32, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Insurance industry in the US. Total returns to shareholders of 290% over the past three years. Reported Earnings • May 09
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$0.29 (up from US$0.13 in 1Q 2024). Revenue: US$50.5m (up 41% from 1Q 2024). Net income: US$3.88m (up 172% from 1Q 2024). Profit margin: 7.7% (up from 4.0% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 145%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 65% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$20.12, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Insurance industry in the US. Total returns to shareholders of 394% over the past three years. 공고 • Apr 25
Kingstone Companies, Inc. to Report Q1, 2025 Results on May 08, 2025 Kingstone Companies, Inc. announced that they will report Q1, 2025 results After-Market on May 08, 2025 Major Estimate Revision • Mar 27
Consensus EPS estimates increase by 11%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$195.9m to US$187.6m. EPS estimate rose from US$1.80 to US$2.00. Net income forecast to grow 55% next year vs 6.7% growth forecast for Insurance industry in the US. Consensus price target up from US$18.00 to US$19.00. Share price rose 8.0% to US$16.67 over the past week. Price Target Changed • Mar 26
Price target increased by 12% to US$19.00 Up from US$17.00, the current price target is provided by 1 analyst. New target price is 14% above last closing price of US$16.67. Stock is up 329% over the past year. The company is forecast to post earnings per share of US$2.00 for next year compared to US$1.60 last year. 공고 • Mar 20
Kingstone Companies, Inc. Announces Cessation of Timothy Mcfadden as Director On March 12, 2025, Timothy McFadden, a director of Kingstone Companies, Inc. (the “Company”), informed the Board of Directors of the Company (the “Board”) that he will not be seeking re-election to the Board at the 2025 annual meeting of stockholders. Mr. McFadden’s decision not to stand for re-election was for personal reasons and not a result of any disagreement with the Company. New Risk • Mar 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Reported Earnings • Mar 14
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: US$1.60 (up from US$0.57 loss in FY 2023). Revenue: US$155.1m (up 7.6% from FY 2023). Net income: US$18.4m (up US$24.5m from FY 2023). Profit margin: 12% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$15.16, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Insurance industry in the US. Total returns to shareholders of 193% over the past three years. 공고 • Feb 25
Kingstone Companies, Inc. to Report Q4, 2024 Results on Mar 13, 2025 Kingstone Companies, Inc. announced that they will report Q4, 2024 results After-Market on Mar 13, 2025 New Risk • Feb 16
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$246k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Significant insider selling over the past 3 months (US$246k sold). Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$16.99, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Insurance industry in the US. Total returns to shareholders of 241% over the past three years. Major Estimate Revision • Jan 22
Consensus revenue estimates decrease by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$156.8m to US$130.6m. EPS estimate unchanged from US$1.48 per share at last update. Insurance industry in the US expected to see average net income growth of 12% next year. Consensus price target up from US$17.00 to US$18.00. Share price was steady at US$15.42 over the past week. 공고 • Jan 08
Kingstone Companies, Inc. has filed a Follow-on Equity Offering in the amount of $25 million. Kingstone Companies, Inc. has filed a Follow-on Equity Offering in the amount of $25 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering New Risk • Dec 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Recent Insider Transactions Derivative • Dec 10
Independent Director notifies of intention to sell stock William Yankus intends to sell 10k shares in the next 90 days after lodging an Intent To Sell Form on the 9th of December. If the sale is conducted around the recent share price of US$16.21, it would amount to US$166k. Since March 2024, William has owned 77.20k shares directly. Company insiders have collectively bought US$174k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Nov 22
Independent Non-Executive Chairman recently bought US$195k worth of stock On the 21st of November, Thomas Newgarden bought around 15k shares on-market at roughly US$12.87 per share. This transaction increased Thomas' direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Thomas' only on-market trade for the last 12 months. Major Estimate Revision • Nov 21
Consensus revenue estimates increase by 21% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$129.9m to US$156.8m. EPS estimate increased from US$1.44 to US$1.48 per share. Net income forecast to grow 26% next year vs 14% growth forecast for Insurance industry in the US. Consensus price target up from US$13.50 to US$17.00. Share price rose 28% to US$13.83 over the past week. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$13.90, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Insurance industry in the US. Total returns to shareholders of 187% over the past three years. Recent Insider Transactions Derivative • Nov 17
Chief Accounting Officer exercised options and sold US$69k worth of stock On the 14th of November, Victor Brodsky exercised 26.06k options at around US$7.99, then sold 17k of the shares acquired at an average of US$11.92 per share and kept the remainder. Since June 2024, Victor has owned 55.96k shares directly. Company insiders have collectively bought US$5.3k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Nov 14
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: US$0.65 (up from US$0.33 loss in 3Q 2023). Revenue: US$40.8m (up 19% from 3Q 2023). Net income: US$6.98m (up US$10.5m from 3Q 2023). Profit margin: 17% (up from net loss in 3Q 2023). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.9%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Nov 01
Consensus EPS estimates increase by 31% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$126.8m to US$129.9m. EPS estimate increased from US$1.10 to US$1.44 per share. Net income forecast to grow 202% next year vs 10% growth forecast for Insurance industry in the US. Consensus price target up from US$10.50 to US$13.50. Share price rose 8.6% to US$10.62 over the past week. 공고 • Oct 29
Kingstone Companies, Inc. to Report Q3, 2024 Results on Nov 12, 2024 Kingstone Companies, Inc. announced that they will report Q3, 2024 results After-Market on Nov 12, 2024 공고 • Aug 30
Kingstone Companies, Inc. Announces Management Changes Kingstone Companies, Inc. announced that Barry Goldstein, its long-time Chairman of the Board of Directors, will retire effective September 10, 2024. Thomas Newgarden, who joined the Company's board earlier this year, will become Kingstone's Non-Executive Chairman concurrent with Mr. Goldstein's departure. Mr. Goldstein has served as the Company's Chairman of the Board since March 2001 and served as its Chief Executive Officer from March 2001 to December 2018 and from July 2019 to September 2023. He has been the Chairman of Kingstone Insurance Company, the Company's operating insurance company subsidiary, for the past eighteen years. A few years after joining Kingstone, Mr. Goldstein led the Company (then an insurance agency) to a Nasdaq listing in October 2004. In 2005, after the Company acquired the $3.75 million of surplus notes issued by Commercial Mutual Insurance Company ("CMIC"), an insurance company, he became CMIC's Chairman and engineered its demutualization. Determined to focus solely on underwriting, the Company sold off its agency and premium finance assets and acquired 100% equity ownership of CMIC in July 2009 (renaming it Kingstone Insurance Company ("KICO"), with the parent company being named Kingstone Companies, Inc.). Over the subsequent fifteen years, KICO grew to write over $200 million in annual premiums and become the 15th largest writer of homeowners insurance in New York State. KICO recently reported the most profitable quarter in its 138-year history. Major Estimate Revision • Aug 21
Consensus revenue estimates decrease by 17%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$152.4m to US$126.8m. EPS estimate increased from US$1.01 to US$1.03 per share. Net income forecast to grow 151% next year vs 16% growth forecast for Insurance industry in the US. Consensus price target up from US$9.00 to US$10.50. Share price rose 37% to US$11.47 over the past week. Reported Earnings • Aug 16
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: US$0.41 (up from US$0.049 loss in 2Q 2023). Revenue: US$36.5m (flat on 2Q 2023). Net income: US$4.51m (up US$5.04m from 2Q 2023). Profit margin: 12% (up from net loss in 2Q 2023). Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 5.1%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year. New Risk • Aug 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (US$81.2m market cap). 공고 • Jul 29
Kingstone Companies, Inc. to Report Q2, 2024 Results on Aug 12, 2024 Kingstone Companies, Inc. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 12, 2024 공고 • Jun 19
Kingstone Companies, Inc. Appoints Thomas Newgarden to its Board of Directors Kingstone Companies, Inc. announced the appointment of Thomas "Tom" Newgarden to its Board of Directors. Mr. Newgarden is an analytics-driven insurance executive with over 30 years of experience, leading efforts to profitably grow carriers across the property and casualty spectrum, with a primary focus on personal lines. His areas of expertise include predictive modeling/data science, product management/development segmentation, Insurtech/business development, underwriting, and actuarial disciplines. Mr. Newgarden played an instrumental role in the successful acquisition and rehabilitation of National General Insurance (formerly GMAC insurance), including Executive Vice President and Chief Underwriting Officer, Chief Analytics Officer, and President of National General Preferred, culminating in the successful sale to Allstate Insurance. Prior to National General, Mr. Newgarden enjoyed similar achievements in profitable growth as Senior Vice President and Chief Underwriting Officer at AIG Private Client Group, Senior Vice President of Personal Lines at Safeco Insurance, and Vice President of Underwriting at Plymouth Rock Assurance. Since leaving Allstate in 2022, Mr. Newgarden has primarily worked as a consultant and advisor to carriers and other insurance entities including Jerry Insurance and Aspire General Insurance. Previously, his Board experience included the Insurance Institute for Highway Safety and National Highway Traffic Safety Administration, among others. Mr. Newgarden graduated with a bachelor's degree in economics/mathematics from Binghamton University. 공고 • Jun 08
Kingstone Companies, Inc., Annual General Meeting, Aug 07, 2024 Kingstone Companies, Inc., Annual General Meeting, Aug 07, 2024. Location: 15 joys lane, new york 12401, kingston United States Reported Earnings • May 14
First quarter 2024 earnings released: EPS: US$0.13 (vs US$0.47 loss in 1Q 2023) First quarter 2024 results: EPS: US$0.13 (up from US$0.47 loss in 1Q 2023). Revenue: US$35.8m (down 2.4% from 1Q 2023). Net income: US$1.43m (up US$6.48m from 1Q 2023). Profit margin: 4.0% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. 공고 • May 01
Kingstone Companies, Inc. to Report Q1, 2024 Results on May 13, 2024 Kingstone Companies, Inc. announced that they will report Q1, 2024 results After-Market on May 13, 2024 공고 • Apr 10
Kingstone Companies, Inc. Appoints Manmohan Singh to Its Board of Directors Kingstone Companies, Inc. announced the appointment of Manmohan "Manu" Singh to its Board of Directors. Mr. Singh's appointment was in accordance with the terms outlined in an agreement between the Company and certain noteholders, pursuant to which the noteholders have the right to nominate one person to serve as a member of the Company's Board of Directors. Mr. Singh is the Group Chief Financial Officer and Head of Corporate Development for Angel Oak Companies, overseeing financial operations, including accounting and treasury, for all of Angel Oak's subsidiaries. He is also a member of the Angel Oak Enterprise Risk Management Committee. Previously, he was a Director in the Insurance Investment Banking team at New York-based Sandler O'Neill & Partners, which was an investment bank specializing in financial institutions that merged with Piper Jaffray Companies to form Piper Sandler Companies. During his 12 years with Sandler O'Neill, Mr. Singh worked extensively in the insurance sector, advising them on capital raising and M&A related matters. Manu has been involved with several key M&A transactions, including those involving private equity buyers and alternative asset managers making forays into the life and annuity sector. Mr. Singh holds a Master of Business Administration from the Indiana University Kelley School of Business, a Master of Science in Finance from the Department of Financial Studies at the University of Delhi, and a Bachelor of Engineering from Deenbandhu Chhotu Ram University of Science and Technology in India. New Risk • Apr 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$13m free cash flow). Earnings have declined by 41% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (US$50.6m market cap). Reported Earnings • Mar 29
Full year 2023 earnings released: US$0.57 loss per share (vs US$2.12 loss in FY 2022) Full year 2023 results: US$0.57 loss per share (improved from US$2.12 loss in FY 2022). Revenue: US$144.2m (up 11% from FY 2022). Net loss: US$6.17m (loss narrowed 73% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. 공고 • Feb 28
Kingstone Companies, Inc. to Report Q4, 2023 Results on Mar 27, 2024 Kingstone Companies, Inc. announced that they will report Q4, 2023 results After-Market on Mar 27, 2024 Board Change • Feb 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. President, CEO, COO & Director Meryl Golden was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 공고 • Nov 15
Kingstone Companies, Inc. announced delayed 10-Q filing On 11/14/2023, Kingstone Companies, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공고 • Oct 19
Kingstone Companies, Inc. to Report Q3, 2023 Results on Nov 09, 2023 Kingstone Companies, Inc. announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 New Risk • Oct 01
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$14m Forecast net loss in 1 year: US$2.7m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (US$2.7m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$19.3m market cap). New Risk • Aug 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Market cap is less than US$100m (US$14.4m market cap). Reported Earnings • Aug 13
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: US$0.049 loss per share (improved from US$0.51 loss in 2Q 2022). Revenue: US$36.7m (up 27% from 2Q 2022). Net loss: US$522.0k (loss narrowed 90% from 2Q 2022). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates. Revenue is expected to decline by 12% p.a. on average during the next 2 years, while revenues in the Insurance industry in the US are expected to grow by 5.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. New Risk • Aug 12
New major risk - Revenue and earnings growth Earnings have declined by 56% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 56% per year over the past 5 years. Minor Risks High level of debt (40% net debt to equity). Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (US$14.4m market cap). 공고 • Aug 10
Kingstone Companies, Inc. Announces Executive Changes Kingstone Companies, Inc. announced that Meryl Golden has been appointed to the position Chief Executive Officer effective October 1, 2023, when current CEO Barry Goldstein will step down and continue as Chairman of Kingstone's Board of Directors. Ms. Golden is currently Chief Operating Officer of Kingstone and is the President of Kingstone Insurance Company. She joined Kingstone in September 2019 and has led the efforts to modernize the Company and its products, reduce its costs and manage through the volatility of the property market in the Northeast. Mr. Goldstein joined Kingstone (then known as DCAP Group, Inc., a regional insurance brokerage business) in 2001. From 2005 to 2009, he led the efforts to transform the Company to an underwriting enterprise. In July 2009, the conversion of the former Commercial Mutual Insurance Company was completed and, in advance of such, the Company disposed of its brokerage and premium finance businesses. Operating solely as a property and casualty insurance company since then, Kingstone's premiums are now over $200 million, and it has grown from insuring approximately 12,000 homeowners to over 80,000 homes in the Northeast. 