Kingsway Financial Services Inc. (NYSE:KFS) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) by 21.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 37,793 shares of the insurance provider’s stock after acquiring an additional 6,778 shares during the quarter. Bank of New York Mellon Corp owned 0.13% of Kingsway Financial Services worth $311,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KFS. BNP Paribas Financial Markets raised its position in Kingsway Financial Services by 193.0% in the first quarter. BNP Paribas Financial Markets now owns 9,679 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 6,376 shares during the period. Swedbank AB purchased a new position in Kingsway Financial Services during the 1st quarter valued at about $2,085,000. Greenhaven Road Investment Management L.P. grew its position in Kingsway Financial Services by 26.2% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 403,395 shares of the insurance provider’s stock valued at $3,388,000 after acquiring an additional 83,641 shares in the last quarter. Vanguard Group Inc. increased its stake in Kingsway Financial Services by 3.2% during the first quarter. Vanguard Group Inc. now owns 487,353 shares of the insurance provider’s stock worth $4,065,000 after purchasing an additional 14,981 shares during the period. Finally, Wasatch Advisors LP lifted its position in shares of Kingsway Financial Services by 14.6% during the fourth quarter. Wasatch Advisors LP now owns 828,552 shares of the insurance provider’s stock worth $6,960,000 after purchasing an additional 105,751 shares in the last quarter. Hedge funds and other institutional investors own 72.38% of the company’s stock.

Kingsway Financial Services Price Performance

NYSE:KFS opened at $7.98 on Thursday. Kingsway Financial Services Inc. has a 12-month low of $6.25 and a 12-month high of $9.48. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $8.08 and a 200 day moving average price of $8.23.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last announced its quarterly earnings data on Tuesday, August 6th. The insurance provider reported ($0.09) EPS for the quarter. Kingsway Financial Services had a negative return on equity of 24.54% and a negative net margin of 7.45%. The company had revenue of $26.45 million for the quarter.

Insiders Place Their Bets

In other news, Director Joseph Stilwell sold 100,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $8.13, for a total value of $813,000.00. Following the sale, the director now directly owns 640,108 shares in the company, valued at approximately $5,204,078.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 1,439 shares of company stock worth $12,190 in the last 90 days. Corporate insiders own 54.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Kingsway Financial Services from a “hold” rating to a “sell” rating in a research note on Friday, June 14th.

Kingsway Financial Services Profile

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.