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Kingstone Companies Inc (KINS)
NASDAQ:KINS
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Kingstone Companies
(NASDAQ:KINS)
65Neutral
Kingstone Companies (KINS) vs. S&P 500 (SPY)
Market Cap
$171.53M
Dividend YieldN/A
Average Volume (3M)299.22K
Price to Earnings (P/E)10.6
Beta (1Y)1.16
Revenue Growth6.39%
EPS GrowthN/A
CountryUS
Employees84
SectorFinancial
Sector Strength77
IndustryInsurance
Share Statistics
EPS (TTM)1.31
Shares Outstanding12,349,132
10 Day Avg. Volume310,318
30 Day Avg. Volume299,218
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.52
Price to Cash Flow (P/CF)2.00
P/FCF Ratio2.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$17.00Price Target Upside22.39% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering0
Kingstone Companies Business Overview & Revenue Model
Company DescriptionKingstone Companies, Inc. (KINS) is an insurance holding company primarily engaged in providing property and casualty insurance products through its subsidiary, Kingstone Insurance Company. The company focuses on offering personal lines insurance products, including homeowners, dwelling fire, and personal umbrella policies, predominantly in the state of New York. Kingstone targets individual policyholders and small businesses, leveraging a network of independent agents to distribute its insurance products.
How the Company Makes MoneyKingstone Companies generates revenue primarily through the underwriting of insurance policies and the collection of premiums from policyholders. The company's key revenue streams include premiums from personal lines insurance products, which cover risks related to homeowners, renters, and personal property. Additionally, Kingstone earns investment income from its portfolio of invested assets, which include fixed-income securities and equity investments. The company's earnings are influenced by factors such as underwriting performance, claims experience, and investment returns. Kingstone also forms partnerships with independent insurance agents who facilitate the distribution of its products, contributing to its reach and policy volume.
Kingstone Companies Financial Statement Overview
Summary
Kingstone Companies faces financial challenges, particularly with leverage and profitability. Positives include a positive net income and improved EBITDA margins, but high debt levels and inconsistent revenue growth pose risks.Income Statement
Kingstone Companies shows a mixed income statement performance. The TTM (Trailing-Twelve-Months) data reveals a significant gross loss, which impacts overall profitability. However, the company has managed to achieve a positive net income in the TTM period, indicating some recovery. Historical revenue growth has been inconsistent, and EBIT margins have fluctuated, which poses challenges for sustainable profitability. The EBITDA margin has shown improvement in the TTM, suggesting operational efficiency gains.35
Negative
Balance Sheet
The balance sheet indicates high leverage, with a substantial increase in total debt in the TTM period. The debt-to-equity ratio is concerning, indicating financial risk. The company's equity ratio is relatively low, which affects its financial stability. Return on equity is positive in the TTM, but the overall trajectory shows volatility, reflecting underlying financial challenges.30
Negative
Cash Flow
Cash flow analysis shows improvement in free cash flow in the TTM, which is a positive sign. The operating cash flow to net income ratio is favorable, indicating efficient cash generation from operations. However, historical free cash flow growth has been inconsistent, highlighting potential volatility in cash flow management.45
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 140.42M | 123.14M | 130.16M | 161.23M | 131.37M | 145.56M | Gross Profit |
| -1.44B | 102.08M | 127.05M | 157.05M | 127.09M | 145.56M | EBIT |
| 14.40M | -3.36M | 5.53M | -10.26M | -2.28M | -9.61M | EBITDA |
| 638.60M | -389.56K | -22.62M | -4.29M | 586.22K | -3.41M | Net Income Common Stockholders |
| 15.87M | -6.17M | -22.52M | -7.38M | 972.39K | -5.97M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 189.49M | 8.98M | 166.67M | 182.37M | 177.01M | 200.63M | Total Assets |
| 266.75M | 247.22M | 320.33M | 331.31M | 317.58M | 321.20M | Total Debt |
| 29.30M | 25.29M | 25.16M | 29.82M | 29.65M | 29.47M | Net Debt |
| 8.16M | 16.31M | 13.20M | 5.53M | 10.18M | -2.92M | Total Liabilities |
| 178.09M | 212.71M | 284.16M | 255.64M | 224.78M | 232.98M | Stockholders Equity |
| 88.67M | 34.50M | 36.17M | 75.67M | 92.80M | 88.22M |
| Cash Flow | Free Cash Flow | ||||
| 37.20M | -13.15M | -5.47M | 19.85M | -13.56M | 25.92M | Operating Cash Flow |
| 39.39M | -11.33M | -915.52K | 24.35M | -10.23M | 29.86M | Investing Cash Flow |
| -9.26B | 9.46M | -5.91M | -15.95M | 581.29K | -14.97M | Financing Cash Flow |
| -1.25M | -1.12M | -5.51M | -3.57M | -3.27M | -3.63M |
Kingstone Companies Technical Analysis
Negative
13.89
Price Trends
15.93
Negative
14.62
Negative
10.89
Positive
Market Momentum
-0.59
Positive
38.77
Neutral
16.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KINS, the sentiment is Negative. The current price of 13.89 is below the 20-day moving average (MA) of 16.04, below the 50-day MA of 15.93, and above the 200-day MA of 10.89, indicating a neutral trend. The MACD of -0.59 indicates Positive momentum. The RSI at 38.77 is Neutral, neither overbought nor oversold. The STOCH value of 16.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KINS.
Kingstone Companies Risk Analysis
Kingstone Companies disclosed 31 risk factors in its most recent earnings report. Kingstone Companies reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kingstone Companies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $858.08M | 17.72 | 12.19% | 1.04% | 24.23% | 280.49% | |
73 Outperform | $958.80M | 17.21 | 20.17% | 2.97% | 0.71% | -10.39% | |
73 Outperform | $23.33B | 9.18 | 16.52% | ― | 5.17% | 35.36% | |
72 Outperform | $1.49B | 15.06 | 28.26% | 1.15% | 36.21% | 18.17% | |
65 Neutral | $171.53M | 10.62 | 36.81% | ― | 6.39% | ― | |
64 Neutral | $13.79B | 10.52 | 9.20% | 4.24% | 17.25% | -7.60% | |
42 Neutral | $215.07M | ― | -29.78% | ― | 6.55% | -120.38% |
* Financial Sector Average
Performance Comparison
KINS
Kingstone Companies
14.27
10.46
274.54%
AMSF
Amerisafe
50.04
2.31
4.84%
KFS
Kingsway Financial Services
7.81
-0.72
-8.44%
MKL
Markel
1,816.13
314.85
20.97%
TIPT
Tiptree Financial
22.89
6.20
37.15%
HCI
HCI Group
139.32
26.22
23.18%
Kingstone Companies Earnings Call Summary
Earnings Call Date: Nov 12, 2024 | % Change Since: 16.23% | Next Earnings Date: Mar 13, 2025
Earnings Call Sentiment Positive
The earnings call reflects a strong positive outlook with record-breaking income, strategic growth opportunities, and improved financial metrics. However, there are concerns regarding debt management and potential reinsurance cost increases, which are being addressed. Overall, the company is in a solid position to capitalize on market opportunities and improve profitability.Highlights
Record-Breaking Income and Premiums
The highest income ever recorded in a quarter since 2009 acquisition and record-setting premiums written. Operating margins and a 40% growth rate in core personal lines business were achieved simultaneously.
Significant Growth Opportunity
Growth driven by the exit of two competitors and a third company from the New York homeowners market. Estimated $25 million to $30 million in incremental premium and 8,000 to 10,000 new policies expected from this market dislocation.
Improved Financial Metrics
Core personal lines direct written premium up 43% year-over-year. Combined ratio improved by 38.2 points to 72% for the quarter.
Strong Select Product Performance
Select product outperforms expectations with reported frequency more than 20% lower than the legacy product, showing great risk selection.
Updated and Positive Financial Guidance
Increased guidance for 2024 and 2025 with expectations of GAAP combined ratio between 79%-83% for 2024 and earnings per share between $1.40-$1.70.
Lowlights
Debt Management Concerns
The need to manage and reduce debt strategically was emphasized, with historical reliance on dividends being insufficient for liquidity.
Potential Reinsurance Cost Increase
Anticipated increase in reinsurance costs for 2025, driven by exposure growth and a hardening market for catastrophe reinsurance.
Noncore Business Reduction
Continued reduction of noncore business, which decreased by 60% in both written premium and policies in force compared to the previous year.
Company Guidance
During the Q3 2024 earnings call, Kingstone Companies provided updated guidance reflecting robust business performance and strategic growth. For 2024, the company reaffirmed its expectation of core business direct written premium growth between 25% and 35%, with net premiums earned approximating $128 million. The GAAP combined ratio is projected to be between 79% and 83%, with earnings per share ranging from $1.40 to $1.70 and return on equity between 32% and 36%. Looking ahead to 2025, Kingstone anticipates core business direct written premium growth of 15% to 25%, with net premiums earned around $165 million. The GAAP combined ratio is expected to be between 82% and 86%, earnings per share between $1.60 and $2, and return on equity from 24% to 32%. These projections incorporate market changes, such as the exit of competitors in New York, and potential increases in reinsurance costs due to a hardening market.Kingstone Companies Corporate Events
Other
Kingstone Companies Shares Year-End Stockholder Letter
Neutral
Jan 8, 2025
Kingstone Companies, Inc. issued a year-end letter to its stockholders, noting that the information provided will not be incorporated into any registration statement unless specifically identified. The release does not imply the information is complete or material for investment decisions regarding the company’s securities.
Other
Kingstone’s Latest Transparency Update for Stockholders
Neutral
Nov 19, 2024
Kingstone Companies, Inc. has communicated important updates to its stockholders through a press release, emphasizing that the information shared is not intended to influence investment decisions or be deemed material. This update highlights Kingstone’s commitment to transparency, while also advising investors to consider all available information before making financial choices.
Regulatory Filings and Compliance
Kingstone Companies Shares Informational Materials Under Regulation FD
Neutral
Nov 13, 2024
The company’s recent press release and presentation materials are being shared for informational purposes and are not part of any official registration under the Securities Act. This implies that these documents should not be seen as complete or decisive for making investment decisions, signaling the importance for investors to seek additional information when evaluating potential securities.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.