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

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

Kingsway Financial Services Price Performance

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

Institutional Investors Weigh In On Kingsway Financial Services

A number of hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in Kingsway Financial Services by 50.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,937 shares of the insurance provider’s stock valued at $50,000 after buying an additional 1,980 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of 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 during the last quarter. Private Advisor Group LLC acquired a new position in shares of Kingsway Financial Services in the 4th quarter worth approximately $102,000. Bank of America Corp DE grew its position in Kingsway Financial Services by 36.5% during the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new stake in Kingsway Financial Services during the 4th quarter valued at $108,000. Institutional investors and hedge funds own 72.38% of the company’s stock.

Wall Street Analyst Weigh In

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

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.