Zacks: Conifer Holdings Inc (CNFR) Given Consensus Rating of “Buy” by Brokerages

Shares of Conifer Holdings Inc (NASDAQ:CNFR) have earned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Brokerages have set a 1 year consensus price objective of $7.00 for the company and are expecting that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also given Conifer an industry rank of 146 out of 255 based on the ratings given to its competitors.

Several brokerages have weighed in on CNFR. Zacks Investment Research upgraded Conifer from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded Conifer from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Raymond James restated a “buy” rating on shares of Conifer in a report on Monday, August 13th.

CNFR remained flat at $$5.55 during trading on Friday. The company’s stock had a trading volume of 86 shares, compared to its average volume of 5,688. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market cap of $48.14 million, a P/E ratio of -1.91 and a beta of 1.08. Conifer has a 52 week low of $5.00 and a 52 week high of $7.20.

Conifer (NASDAQ:CNFR) last issued its quarterly earnings results on Wednesday, August 8th. The insurance provider reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.06). The business had revenue of $25.27 million during the quarter, compared to analyst estimates of $23.33 million. Conifer had a negative net margin of 20.48% and a negative return on equity of 33.42%. As a group, research analysts anticipate that Conifer will post 0.43 earnings per share for the current year.

In other news, President Brian J. Roney acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was acquired at an average cost of $6.07 per share, for a total transaction of $60,700.00. Following the acquisition, the president now directly owns 313,602 shares in the company, valued at approximately $1,903,564.14. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 52.50% of the company’s stock.

A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC lifted its position in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 457,842 shares of the insurance provider’s stock after buying an additional 11,569 shares during the period. Northpointe Capital LLC owned approximately 5.37% of Conifer worth $2,884,000 as of its most recent SEC filing. Institutional investors and hedge funds own 26.20% of the company’s stock.

About Conifer

Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, such as companies that provide security guard services, security alarm products and services, and private investigative services.

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