Insurer Kingstone hits record high after Q1 profit beats estimates
ReutersMay 9, 2025 2:54 PM
Shares of property and casualty insurer Kingstone Companies KINS.O jump as much as 22%, hitting their record high
Stock last up 19% at $21.65
KINS late Thursday posted Q1 profit well above Wall Street expectations, its sixth consecutive quarter of profitability
Co reported 23% growth in its core business direct premiums written in Q1
CEO Meryl Golden says "continuing favorable competitive landscape" is creating "meaningful opportunities" to underwrite profitable new business in downstate New York
KINS also reiterated its outlook for FY 2025
Lone analyst covering the stock rates it "strong buy" with a PT of $19 - data compiled by LSEG
As of last close, KINS stock up 19.7% YTD
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