Joseph Stilwell Sells 1,000,000 Shares of Kingsway Financial Services Inc. (NYSE:KFS) Stock

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) Director Joseph Stilwell sold 1,000,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.00, for a total value of $8,000,000.00. Following the completion of the transaction, the director now directly owns 498,937 shares in the company, valued at $3,991,496. This trade represents a 66.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Kingsway Financial Services Price Performance

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KFS. BNP Paribas Financial Markets boosted its stake in Kingsway Financial Services by 36.4% in the third quarter. BNP Paribas Financial Markets now owns 6,526 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 1,742 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Kingsway Financial Services by 368.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,532 shares of the insurance provider’s stock valued at $236,000 after purchasing an additional 22,438 shares during the period. Private Advisor Group LLC purchased a new position in Kingsway Financial Services during the 4th quarter worth approximately $102,000. State Street Corp increased its position in Kingsway Financial Services by 4.8% during the third quarter. State Street Corp now owns 151,477 shares of the insurance provider’s stock worth $1,254,000 after buying an additional 6,877 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Kingsway Financial Services by 2.0% in the third quarter. Geode Capital Management LLC now owns 347,235 shares of the insurance provider’s stock valued at $2,875,000 after buying an additional 6,941 shares during the last quarter. 72.38% of the stock is owned by hedge funds and other institutional investors.

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.