Brokerages expect Conifer Holdings Inc (NASDAQ:CNFR) to post $24.81 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Conifer’s earnings. The highest sales estimate is $26.00 million and the lowest is $23.63 million. Conifer reported sales of $25.66 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Conifer will report full-year sales of $24.81 million for the current financial year, with estimates ranging from $93.92 million to $96.20 million. For the next fiscal year, analysts expect that the business will post sales of $104.94 million per share, with estimates ranging from $102.38 million to $107.50 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Conifer.
Conifer (NASDAQ:CNFR) last posted its earnings results on Wednesday, November 8th. The insurance provider reported ($2.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.08). Conifer had a negative return on equity of 43.07% and a negative net margin of 27.29%.
A number of research firms have weighed in on CNFR. Zacks Investment Research raised shares of Conifer from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Conifer in a research note on Thursday, November 9th.
Shares of Conifer (NASDAQ CNFR) opened at $6.00 on Friday. Conifer has a one year low of $5.30 and a one year high of $8.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.54 and a current ratio of 0.54.
In other Conifer news, EVP Nicholas J. Petcoff purchased 16,000 shares of the business’s stock in a transaction dated Wednesday, October 10th. The shares were bought at an average price of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the executive vice president now owns 114,759 shares in the company, valued at $717,243.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Mccammon sold 53,699 shares of Conifer stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $6.07, for a total transaction of $325,952.93. Following the transaction, the director now owns 9,000 shares in the company, valued at approximately $54,630. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,000 shares of company stock worth $900,349. 45.50% of the stock is owned by company insiders.
An institutional investor recently raised its position in Conifer stock. Northpointe Capital LLC lifted its holdings in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 69.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 534,955 shares of the insurance provider’s stock after purchasing an additional 218,765 shares during the period. Northpointe Capital LLC owned 6.28% of Conifer worth $3,103,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 28.16% of the company’s stock.
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Conifer Company Profile
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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