Kingstone Companies, Inc. (KINS) Stock

Kingstone Companies, Inc. (KINS) is a Financials stock trading at $19.80 (as of 2026-08-21), with a market capitalization of $286.63M and a trailing P/E of 8.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Kingstone Companies, Inc. (through its subsidiary Kingstone Insurance Company) underwrites property and casualty insurance for individuals in New York, offering personal lines such as homeowners, dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella coverage, along with other specialty products. It also writes for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs, canine legal liability, and reinsurance, distributing through retail and wholesale agents and brokers.

Understand Kingstone Companies, Inc.: how it makes money

Kingstone Companies underwrites property and casualty insurance in New York, earning premium revenue on personal lines (including homeowners and renters), specialty policies (including for-hire vehicle physical damage and canine legal liability), and reinsurance, sold through retail and wholesale agents and brokers.

For a property and casualty insurer, profitability is fundamentally determined by underwriting performance, and the company’s underwriting read-through is the Net Combined Ratio (how loss costs and expenses compare to premiums).

Business quality (Mixed): The latest quarter shows an unprofitable underwriting outcome on a net combined basis (Net Combined Ratio of 112%) alongside a negative operating margin (-12.4%), even though the company has a defined insured portfolio (Policies in Force of 82,000).

Valuation: At 7× earnings, KINS trades 42% below the Insurance average (13×). Note: one-time items can distort reported P/E.

Bull case

Portfolio of personal and specialty lines: The company writes personal line multi-peril products (homeowners and dwelling fire), renters, and personal umbrella, and also writes specialty products like for-hire vehicle physical damage only policies and canine legal liability, which can diversify business mix within property and casualty insurance.
Losses excluding catastrophe are closer to the headline result: Net Loss Ratio Excluding Catastrophe Losses is 60.7%, which is below the Net Loss Ratio of 62.4%, suggesting catastrophe losses are not the entire driver of underwriting results for the period reported.

Bear case

Unprofitable underwriting on a net basis: The Net Combined Ratio is 112.0% for the latest quarter, indicating that combined losses and expenses exceeded earned premium for the period.
High expense burden relative to premiums: The Net Expense Ratio is 30.4%, which contributes to the elevated net combined result and helps explain the negative operating margin.

Valuation — source: SEC EDGAR (first-party)
Price	$19.80
Market Cap	$286.63M
P/E Ratio	8.1
EV / EBITDA	5.8
Price / Book	2.22
Price / Sales	1.21
FCF Yield	29.0%
DCF Value (model)	$86.05
DCF Upside vs Price	334.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$214.87M
Net Margin	19.0%
Revenue Growth (YoY)	25.9%
EPS Growth (YoY)	32.1%
FCF Growth (YoY)	220.1%

Valuation vs Sector & Industry
Stock P/E	8.1
Sector P/E (Financials)	15.1
Industry P/E (Insurance)	13.0
vs Sector	-46.2%
vs Industry	-37.7%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($11.55M)
Institutional Holders Tracked	10

Company
Sector	Financials
Industry	Insurance
CEO	Meryl S. Golden
Employees	99
Country	US
IPO Date	1999-10-26

Related Companies (Business model: Property & Casualty Insurer; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.