Conifer Holdings Inc (CNFR) Receives $6.25 Consensus Target Price from Brokerages

Shares of Conifer Holdings Inc (NASDAQ:CNFR) have been assigned an average recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.25.

CNFR has been the topic of several recent research reports. Raymond James reaffirmed a “buy” rating on shares of Conifer in a report on Monday, August 13th. Boenning Scattergood reaffirmed a “buy” rating and set a $7.00 target price on shares of Conifer in a report on Thursday. TheStreet lowered shares of Conifer from a “c-” rating to a “d” rating in a report on Wednesday, October 31st. ValuEngine lowered shares of Conifer from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. Finally, Zacks Investment Research raised shares of Conifer from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th.

In other Conifer news, President Brian J. Roney bought 10,000 shares of Conifer stock in a transaction that occurred on Tuesday, September 11th. The shares were bought at an average price of $6.07 per share, with a total value of $60,700.00. Following the acquisition, the president now owns 313,602 shares in the company, valued at $1,903,564.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 52.50% of the stock is currently owned by company insiders.

A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC lifted its holdings in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 457,842 shares of the insurance provider’s stock after purchasing an additional 11,569 shares during the period. Northpointe Capital LLC owned about 5.37% of Conifer worth $2,884,000 as of its most recent filing with the SEC. Institutional investors own 25.61% of the company’s stock.

Shares of NASDAQ:CNFR traded down $0.07 during trading on Friday, reaching $5.61. The company had a trading volume of 1,700 shares, compared to its average volume of 5,335. The firm has a market capitalization of $48.99 million, a price-to-earnings ratio of -1.93 and a beta of 0.79. Conifer has a 12 month low of $5.00 and a 12 month high of $7.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.47 and a quick ratio of 0.47.

Conifer (NASDAQ:CNFR) last released its earnings results on Thursday, November 8th. The insurance provider reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.16). Conifer had a negative net margin of 20.48% and a negative return on equity of 33.42%. The business had revenue of $24.77 million for the quarter, compared to the consensus estimate of $24.14 million. As a group, equities research analysts expect that Conifer will post 0.28 EPS for the current year.

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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