Kingstone Companies, Inc.
- Open
- 20.05
- Day high
- 20.16
- Day low
- 19.56
- Prev close
- 20.00
- Volume
- 127K
- Mkt cap
- $284M
- P/E (TTM)
- 7.9
- EPS (TTM)
- $2.48
- P/B
- 0.0
- P/S
- 1.3
- Yield
- 1.07%
- Per share
- $0.21
Kingstone Companies, Inc. (KINS) is a Financial Services company listed on NASDAQ. The stock is up 47% over the past year.
Kingstone Companies, Inc. (KINS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KINS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 7, 2026 | $0.95 | $1.04 | +9.5% | $72M | +1.1% |
| May 8, 2026 | $-0.26 | $-0.35 | -34.6% | $60M | -10.6% |
| Mar 6, 2026 | $1.05 | $1.08 | +2.9% | $41M | -50.9% |
| Nov 6, 2025 | $0.71 | $0.73 | +2.8% | $56M | -26.1% |
| Aug 7, 2025 | $0.55 | $0.75 | +36.4% | $52M | -1.7% |
| May 8, 2025 | — | $0.17 | — | $50M | +21.1% |
| Mar 13, 2025 | $0.46 | $0.46 | +0.0% | $42M | +17.0% |
| Nov 9, 2023 | $-0.05 | $-0.27 | -440.0% | $34M | +15.5% |
| Aug 10, 2023 | $-0.01 | $-0.06 | -500.0% | $37M | +15.4% |
| May 11, 2023 | $-0.19 | $-0.56 | -194.7% | $37M | +46.2% |
| Nov 14, 2022 | $-0.02 | $-0.35 | -1650.0% | $36M | -30.4% |
| Aug 11, 2022 | $0.14 | $-0.17 | -221.4% | $29M | -38.3% |
KINS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 26, 2026 | Patten Randy Lofficer: CFO, VP and Treasurer | Tax | 5,309 | $20.09 |
| Jun 23, 2026 | Chen Minleiofficer: Chief Actuary and Senior VP | Tax | 1,202 | $15.89 |
| Jun 1, 2026 | Newgarden Thomasdirector | Buy | 8,000 | $14.99 |
| Jun 1, 2026 | Newgarden Thomasdirector | Buy | 6,000 | $15.50 |
| May 13, 2026 | Newgarden Thomasdirector | Buy | 15,301 | $14.52 |
| May 13, 2026 | Newgarden Thomasdirector | Buy | 15,201 | $14.36 |
| Apr 20, 2026 | BRODSKY VICTOR Jofficer: Chief Accounting Officer | Tax | 2,453 | $16.61 |
| Apr 17, 2026 | Yankus William Ldirector | Sell | 13,500 | $18.00 |
| Mar 16, 2026 | Chen Minleiofficer: Chief Actuary and Senior VP | Tax | 1,512 | $16.53 |
| Mar 16, 2026 | Chen Minleiofficer: Chief Actuary and Senior VP | Grant | 8,624 | — |
| Mar 16, 2026 | Chen Minleiofficer: Chief Actuary and Senior VP | Option | 3,333 | $2.25 |
| Mar 16, 2026 | Chen Minleiofficer: Chief Actuary, Senior VP | Option | 3,334 | $2.25 |
| Mar 5, 2026 | Chen Minleiofficer: Chief Actuary and Senior VP | Tax | 1,512 | $16.53 |
| Mar 5, 2026 | Chen Minleiofficer: Chief Actuary and Senior VP | Grant | 8,624 | — |
| Mar 4, 2026 | Patten Randy Lofficer: CFO, VP and Treasurer | Grant | 3,126 | — |
Source: KINS SEC Form 4 filings, latest Aug 26, 2026. For informational purposes only — not investment advice.
See the full KINS insider & 13F page →Kingstone Companies, Inc. company profile
Overview
Kingstone Companies, Inc. (NASDAQ:KINS) is a property and casualty insurance company founded in 1886 and headquartered in Kingston, New York. Through its subsidiary Kingstone Insurance Company, the company primarily underwrites personal lines insurance products for individuals in New York State. After experiencing significant losses in the early 2020s, Kingstone has undergone a strategic transformation focusing on profitability over growth, successfully returning to consistent profitability by 2024 through improved underwriting, product innovation, and geographic focus on its core New York market.
Business
Kingstone operates in the property and casualty insurance industry, which provides coverage for individuals and businesses against financial losses from property damage, accidents, and liability claims. Property insurance protects against damage to homes, buildings, and personal belongings from perils like fire, theft, and weather events, while casualty insurance covers liability for injuries or damages caused to others. The company's core business focuses on personal lines insurance products in New York State, which represents approximately 70-80% of its business based on recent premium growth patterns. These products include homeowners insurance (covering dwelling, personal property, and liability), dwelling fire multi-peril policies (for rental properties), cooperative and condominium unit owner policies, renters insurance, and personal umbrella policies that provide additional liability coverage above underlying policies. Kingstone also writes specialty commercial lines, including physical damage coverage for for-hire vehicles such as livery cars, car service vehicles, and taxicabs operating in New York's transportation sector. Additionally, the company offers unique canine legal liability policies that protect dog owners against liability claims, and provides reinsurance products to other insurance companies to help them manage their risk exposure. The company has been strategically reducing its non-core business outside New York, which historically represented a significant portion of operations but proved unprofitable. This non-core segment has been reduced by approximately 60-65% in recent years as part of the company's focus on its profitable New York coastal property market.
Revenue model
Kingstone generates revenue primarily through insurance premiums collected from policyholders in exchange for providing coverage against specified risks. Customers pay annual or semi-annual premiums, and in return, Kingstone agrees to pay covered claims up to policy limits. The company's paying customers are individual homeowners, renters, condominium owners, and small commercial vehicle operators, primarily in New York State. The company's profitability depends on maintaining a combined ratio below 100%, meaning that claims costs plus operating expenses are less than premium income. Kingstone also generates investment income from investing the premiums collected (called "float") in fixed-income securities and other investments until claims are paid. Several factors significantly impact Kingstone's margins and profitability. Catastrophic weather events such as hurricanes, severe storms, and flooding can dramatically increase claim costs, particularly given the company's concentration in coastal New York properties. Inflation affects both claims severity (higher repair and replacement costs) and the adequacy of existing policy limits, requiring regular updates to replacement cost valuations. Interest rate environments impact both sides of the business - rising rates can reduce the market value of the company's bond portfolio but increase future investment income on new investments. The competitive landscape significantly affects pricing power, with Kingstone benefiting from a "hard market" where competitors have exited or reduced writing in New York, allowing for rate increases and selective underwriting. Regulatory factors also influence profitability, as insurance is heavily regulated at the state level, with regulators controlling rate approval processes and solvency requirements. The company's expense ratio is affected by operational efficiency, reinsurance costs, and the ability to spread fixed costs over a larger premium base as the business grows.
Competitive moat
Kingstone's competitive moat is moderate but improving, primarily derived from its specialized focus on New York's coastal property insurance market and current favorable market dynamics. The company benefits from regulatory barriers to entry, as new insurers must obtain state licensing, meet capital requirements, and navigate complex regulatory approval processes to write business in New York. The company's strongest moat element is its market positioning during a hard market cycle. Several major competitors have exited or significantly reduced their New York coastal property writings due to catastrophe losses, creating opportunities for Kingstone to grow selectively with improved pricing power. This market dislocation has allowed the company to increase rates while maintaining growth, a rare combination in insurance. Kingstone has developed specialized underwriting expertise in New York coastal risks through decades of experience, culminating in their new "Select" product that uses sophisticated risk segmentation and pricing models. This product has demonstrated significantly lower loss frequency compared to legacy products, suggesting improved risk selection capabilities. However, the company's moat faces several challenges. The insurance industry is inherently cyclical, and the current hard market conditions that benefit Kingstone will eventually soften as capital returns and competition increases. The company's geographic concentration in New York, while currently advantageous, creates vulnerability to regional catastrophes and regulatory changes. Potential disruption could come from well-capitalized insurers entering the New York market, insurtech companies with superior data analytics and customer acquisition capabilities, or climate change making coastal property insurance fundamentally uneconomical. The company's relatively small size (less than 2% market share in New York) limits its ability to spread risks and could make it vulnerable to adverse selection or catastrophic losses.
Risks & safety
Kingstone demonstrates strong financial stability with excellent liquidity and manageable leverage following its recent debt payoff and operational turnaround. • Debt and Solvency: Company eliminated all holding company debt in 2024, paying off $20 million in borrowings. Current debt-to-equity ratio of 6.5% represents minimal leverage. Strong current ratio of 34.9x indicates excellent short-term liquidity. • Cash Position: Substantial cash and short-term investments of $37.5 billion (likely a data error, but company shows strong cash generation with $57.9 million operating cash flow in 2024). Free cash flow of $55.6 million in 2024 demonstrates strong cash generation. • Valuation Metrics: Trading at reasonable multiples with P/E of 14.4x based on recent earnings, P/B of 2.7x. Graham number suggests fair value around $6.29, indicating potential overvaluation at current levels. • Profitability Trends: Return on equity of 27.5% in 2024 shows strong profitability recovery. Five consecutive quarters of profitability following years of losses. • Insurance-Specific Metrics: Combined ratio improved to 80% in 2024, well below the 100% breakeven level, indicating strong underwriting profitability.
Recent development
Kingstone has undergone a significant strategic transformation over the past few years, implementing what management calls "Kingstone 3.0" strategy focused on profitable growth rather than premium volume. The company aggressively reduced its non-core business outside New York by approximately 60-65%, eliminating unprofitable segments that had been dragging down overall performance. A key innovation has been the development of the "Select" product suite, which uses sophisticated by-peril rating, improved insurance scoring, and enhanced risk selection compared to legacy products. This new product has demonstrated 29% lower loss frequency than traditional offerings, representing a significant underwriting improvement. The company has capitalized on market disruption caused by competitors exiting the New York market, with management estimating opportunities to write 8,000-10,000 new policies worth $25-35 million in additional premiums from carriers that have stopped writing business in the state. Financial restructuring has been equally important, with Kingstone paying off $20 million in debt within five months during 2024, eliminating approximately $800,000 in annual interest expense. The company also reduced its quota share reinsurance from 27% to 16% for 2025, allowing it to retain more premium and profit. Recent operational developments include completing a renewal rights transaction with AmGUARD (a Berkshire Hathaway subsidiary), selling the company headquarters building for a $1.5 million after-tax gain, and implementing rate segmentation changes across product lines. Management has also been exploring potential geographic expansion beyond New York for 2026 and beyond, though maintaining focus on the core market remains the near-term priority.
KINS company profile · for informational purposes only — not investment advice.
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