Conifer Holdings, Inc. (NASDAQ:CNFR) – Equities research analysts at Boenning Scattergood issued their Q1 2018 earnings estimates for shares of Conifer Holdings in a research note issued on Thursday. Boenning Scattergood analyst R. Farnam forecasts that the insurance provider will post earnings per share of $0.01 for the quarter. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Conifer Holdings’ Q2 2018 earnings at $0.07 EPS.
Separately, Zacks Investment Research cut shares of Conifer Holdings from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 16th.
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Shares of Conifer Holdings (NASDAQ:CNFR) traded down 0.14% on Monday, reaching $6.94. 1,904 shares of the company’s stock traded hands. Conifer Holdings has a 12-month low of $6.00 and a 12-month high of $8.44. The stock has a 50-day moving average price of $6.59 and a 200-day moving average price of $6.59. The company’s market cap is $52.97 million.
Conifer Holdings (NASDAQ:CNFR) last issued its earnings results on Wednesday, August 9th. The insurance provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.31). The firm had revenue of $26.28 million during the quarter, compared to analysts’ expectations of $24.98 million. Conifer Holdings had a negative return on equity of 14.14% and a negative net margin of 8.65%.
In related news, Chairman James G. Petcoff acquired 216,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was purchased at an average cost of $6.25 per share, with a total value of $1,350,000.00. Following the transaction, the chairman now directly owns 258,057 shares of the company’s stock, valued at approximately $1,612,856.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph D. Sarafa acquired 24,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was bought at an average cost of $6.25 per share, with a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 49,000 shares in the company, valued at $306,250. The disclosure for this purchase can be found here. Insiders bought a total of 260,000 shares of company stock worth $1,625,000 over the last 90 days. Company insiders own 45.50% of the company’s stock.
An institutional investor recently raised its position in Conifer Holdings stock. Wells Fargo & Company MN lifted its stake in Conifer Holdings, Inc. (NASDAQ:CNFR) by 0.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 149,245 shares of the insurance provider’s stock after purchasing an additional 1,200 shares during the quarter. Wells Fargo & Company MN owned about 1.96% of Conifer Holdings worth $1,067,000 as of its most recent SEC filing. Institutional investors and hedge funds own 28.92% of the company’s stock.
About Conifer Holdings
Conifer Holdings, Inc is an insurance holding company. Through its insurance company subsidiaries, the Company offers insurance coverage in both specialty commercial and specialty personal product lines. It operates through two segments: commercial lines and personal lines. It is engaged in underwriting and marketing insurance coverage, and administering claims processing for such policies.
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