Conifer (CNFR) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Conifer (NASDAQ:CNFR) from a sell rating to a hold rating in a research note published on Wednesday.

According to Zacks, “Conifer Holdings, Inc. is an insurance holding company. It offers insurance coverage in specialty commercial and specialty personal product lines. Specialty personal product lines offers non-standard homeowners insurance and dwelling fire insurance products to individuals. Specialty commercial lines offer coverage for both commercial property and commercial liability. The company serves restaurants, bars, taverns, bowling centers as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians and other independent contractors, security service providers. Conifer Holdings, Inc. is headquartered in Birmingham, Michigan. “

Other analysts also recently issued research reports about the stock. Raymond James reissued a buy rating on shares of Conifer in a report on Monday, August 13th. ValuEngine downgraded shares of Conifer from a hold rating to a sell rating in a report on Saturday, June 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $6.42.

CNFR stock remained flat at $$5.55 during trading on Wednesday. 86 shares of the company were exchanged, compared to its average volume of 5,688. The stock has a market capitalization 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. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.58.

Conifer (NASDAQ:CNFR) last released its quarterly earnings data on Wednesday, August 8th. The insurance provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The company had revenue of $25.27 million for the quarter, compared to analysts’ expectations of $23.33 million. Conifer had a negative return on equity of 33.42% and a negative net margin of 20.48%. As a group, analysts predict that Conifer will post 0.43 earnings per share for the current year.

In other Conifer news, President Brian J. Roney bought 10,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was bought at an average price of $6.07 per share, for a total transaction of $60,700.00. Following the completion of the transaction, the president now owns 313,602 shares in the company, valued at approximately $1,903,564.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 52.50% of the company’s stock.

A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC boosted its holdings in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 457,842 shares of the insurance provider’s stock after acquiring an additional 11,569 shares during the period. Northpointe Capital LLC owned about 5.37% of Conifer worth $2,884,000 at the end of the most recent reporting period. 26.20% of the stock is currently owned by institutional investors.

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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