Ritholtz Wealth Management lifted its holdings in Kingsway Financial Services Inc. (NYSE:KFS – Free Report) (TSE:KFS) by 63.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,283 shares of the insurance provider’s stock after acquiring an additional 8,293 shares during the period. Ritholtz Wealth Management owned 0.08% of Kingsway Financial Services worth $173,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Greenhaven Road Investment Management L.P. bought a new position in shares of Kingsway Financial Services in the 1st quarter valued at about $2,478,000. JPMorgan Chase & Co. bought a new position in shares of Kingsway Financial Services in the 1st quarter valued at about $362,000. Susquehanna International Group LLP lifted its holdings in shares of Kingsway Financial Services by 163.6% in the 1st quarter. Susquehanna International Group LLP now owns 49,547 shares of the insurance provider’s stock valued at $437,000 after acquiring an additional 30,748 shares during the last quarter. Jane Street Group LLC bought a new stake in Kingsway Financial Services in the first quarter worth about $475,000. Finally, State Street Corp lifted its stake in Kingsway Financial Services by 32.0% in the first quarter. State Street Corp now owns 44,302 shares of the insurance provider’s stock worth $390,000 after purchasing an additional 10,746 shares during the last quarter. Institutional investors own 68.65% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. TheStreet lowered Kingsway Financial Services from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. StockNews.com lowered Kingsway Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, August 25th.
Kingsway Financial Services Stock Down 3.6 %
Shares of NYSE:KFS opened at $7.53 on Friday. Kingsway Financial Services Inc. has a 1 year low of $5.77 and a 1 year high of $10.60. The business has a 50 day simple moving average of $8.41 and a two-hundred day simple moving average of $8.48. The firm has a market capitalization of $203.31 million, a PE ratio of 18.02 and a beta of -0.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.65.
Kingsway Financial Services (NYSE:KFS – Get Free Report) (TSE:KFS) last announced its earnings results on Tuesday, August 8th. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter. Kingsway Financial Services had a net margin of 56.48% and a negative return on equity of 24.94%. The business had revenue of $26.20 million for the quarter.
Insider Activity
In related news, Director Charles L. Frischer purchased 3,900 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was purchased at an average price of $8.50 per share, with a total value of $33,150.00. Following the completion of the purchase, the director now owns 234,900 shares of the company’s stock, valued at approximately $1,996,650. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders purchased 6,346 shares of company stock valued at $53,464. Corporate insiders own 56.40% of the company’s stock.
About Kingsway Financial Services
Kingsway Financial Services Inc, through its subsidiaries, engages in the extended warranty and business services in the United States. The company operates through two segments, Extended Warranty and Kingsway Search Xcelerator. The Extended Warranty segment markets, sells, and administers vehicle service agreements and related products for new and used automobiles, motorcycles, and ATVs.
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