Bank of New York Mellon Corp Reduces Stock Position in Kingsway Financial Services Inc. (NYSE:KFS)

Bank of New York Mellon Corp cut its stake in shares of Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) by 17.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,309 shares of the insurance provider’s stock after selling 5,697 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kingsway Financial Services were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in shares of Kingsway Financial Services by 36.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,526 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 1,742 shares during the period. Private Advisor Group LLC purchased a new stake in Kingsway Financial Services during the fourth quarter valued at approximately $102,000. Barclays PLC raised its position in Kingsway Financial Services by 325.5% in the third quarter. Barclays PLC now owns 18,269 shares of the insurance provider’s stock worth $150,000 after acquiring an additional 13,975 shares during the period. JPMorgan Chase & Co. raised its position in Kingsway Financial Services by 368.2% in the third quarter. JPMorgan Chase & Co. now owns 28,532 shares of the insurance provider’s stock worth $236,000 after acquiring an additional 22,438 shares during the period. Finally, State Street Corp boosted its stake in shares of Kingsway Financial Services by 4.8% during the 3rd quarter. State Street Corp now owns 151,477 shares of the insurance provider’s stock worth $1,254,000 after acquiring an additional 6,877 shares during the last quarter. 72.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Kingsway Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th.

Insider Buying and Selling

In other news, Director Joseph Stilwell sold 1,000,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $8.00, for a total value of $8,000,000.00. Following the transaction, the director now directly owns 498,937 shares in the company, valued at $3,991,496. The trade was a 66.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders bought 1,238 shares of company stock valued at $10,012. 54.75% of the stock is owned by corporate insiders.

Kingsway Financial Services Trading Up 1.6 %

NYSE KFS opened at $8.13 on Friday. Kingsway Financial Services Inc. has a 52 week low of $7.06 and a 52 week high of $9.58. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $7.84 and its 200-day moving average price is $8.30.

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.