Conifer Holdings Inc (NASDAQ:CNFR) – Analysts at Boenning Scattergood cut their Q1 2019 EPS estimates for Conifer in a note issued to investors on Monday, October 22nd, according to Zacks Investment Research. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will earn $0.05 per share for the quarter, down from their prior estimate of $0.12. Boenning Scattergood also issued estimates for Conifer’s Q2 2019 earnings at $0.09 EPS, Q3 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.13 EPS and FY2020 earnings at $0.65 EPS.
Other equities research analysts also recently issued reports about the stock. Raymond James reissued a “buy” rating on shares of Conifer in a research note on Monday, August 13th. Zacks Investment Research raised shares of Conifer from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, ValuEngine downgraded shares of Conifer from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.42.
Conifer stock opened at $5.63 on Wednesday. The company has a market capitalization of $47.29 million, a PE ratio of -1.94 and a beta of 0.79. Conifer has a 1 year low of $5.00 and a 1 year 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 results on Wednesday, November 7th. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.16). Conifer had a negative net margin of 20.48% and a negative return on equity of 33.42%.
An institutional investor recently raised its position in Conifer stock. Northpointe Capital LLC lifted its holdings in Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 457,842 shares of the insurance provider’s stock after purchasing an additional 11,569 shares during the period. Northpointe Capital LLC owned approximately 5.37% of Conifer worth $2,884,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 25.61% of the company’s stock.
In other Conifer news, President Brian J. Roney acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was purchased at an average price of $6.07 per share, for a total transaction of $60,700.00. Following the completion of the acquisition, the president now owns 313,602 shares of the company’s stock, valued at approximately $1,903,564.14. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 52.50% of the company’s stock.
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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