Conifer (CNFR) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Conifer (NASDAQ:CNFR) from a sell rating to a hold rating in a report 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. “

A number of other research firms have also commented on CNFR. ValuEngine upgraded shares of Conifer from a hold rating to a buy rating in a research note on Wednesday, July 4th. Raymond James lowered shares of Conifer from an outperform rating to a market perform rating in a research note on Thursday, July 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Conifer presently has an average rating of Hold and an average price target of $6.42.

NASDAQ:CNFR remained flat at $$5.55 during midday trading on Wednesday. 86 shares of the company traded hands, 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 price-to-earnings ratio of -1.91 and a beta of 1.08. Conifer has a 12-month low of $5.00 and a 12-month high of $7.20.

Conifer (NASDAQ:CNFR) last posted 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 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%. Research analysts anticipate that Conifer will post 0.43 EPS for the current fiscal year.

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

A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC grew its position in Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 quarter. Institutional investors 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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