Conifer (NASDAQ:CNFR) issued its quarterly earnings results on Thursday. The insurance provider reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.16), Morningstar.com reports. Conifer had a negative net margin of 20.48% and a negative return on equity of 33.42%. The firm had revenue of $24.77 million for the quarter, compared to analysts’ expectations of $24.14 million.
NASDAQ:CNFR traded down $0.07 during trading hours on Friday, hitting $5.61. 1,700 shares of the stock traded hands, compared to its average volume of 5,335. 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 has a 1 year low of $5.00 and a 1 year high of $7.20. The company has a market capitalization of $48.99 million, a P/E ratio of -1.93 and a beta of 0.79.
Several equities analysts have weighed in on the stock. ValuEngine downgraded shares of Conifer from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Zacks Investment Research raised shares of Conifer from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. TheStreet downgraded shares of Conifer from a “c-” rating to a “d” rating in a report on Wednesday, October 31st. Finally, Raymond James reaffirmed a “buy” rating on shares of Conifer in a report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $6.42.
In other news, President Brian J. Roney purchased 10,000 shares of the stock in a transaction on Tuesday, September 11th. The shares were acquired at an average price of $6.07 per share, with a total value of $60,700.00. Following the completion of the acquisition, the president now directly owns 313,602 shares of the company’s stock, valued at $1,903,564.14. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.50% of the stock is owned by insiders.
An institutional investor recently raised its position in Conifer stock. Northpointe Capital LLC lifted its stake in Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 457,842 shares of the insurance provider’s stock after buying an additional 11,569 shares during the quarter. Northpointe Capital LLC owned approximately 5.37% of Conifer worth $2,884,000 at the end of the most recent reporting period. Institutional investors own 25.61% of the company’s stock.
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Conifer Company Profile
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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