Conifer Holdings, Inc. (NASDAQ:CNFR) – Equities research analysts at Boenning Scattergood upped their Q2 2018 earnings per share estimates for Conifer Holdings in a note issued to investors on Thursday. Boenning Scattergood analyst R. Farnam now forecasts that the insurance provider will earn $0.09 per share for the quarter, up from their previous estimate of $0.07. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Conifer Holdings’ Q3 2018 earnings at $0.08 EPS, Q4 2018 earnings at $0.09 EPS, Q1 2019 earnings at $0.10 EPS, Q2 2019 earnings at $0.16 EPS and Q3 2019 earnings at $0.15 EPS.
Conifer Holdings (NASDAQ:CNFR) last issued its quarterly earnings data on Wednesday, August 9th. The insurance provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.31). The company had revenue of $26.28 million for the quarter, compared to analysts’ expectations of $24.98 million. Conifer Holdings had a negative return on equity of 40.77% and a negative net margin of 27.29%.
Separately, Zacks Investment Research downgraded shares of Conifer Holdings from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 16th.
Shares of Conifer Holdings (NASDAQ:CNFR) remained flat at $$6.25 during trading hours on Friday. The company had a trading volume of 179 shares, compared to its average volume of 8,154. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.25. Conifer Holdings has a 52 week low of $6.00 and a 52 week high of $8.20.
In related news, Director Joseph D. Sarafa bought 24,000 shares of the business’s stock in a transaction on Friday, September 29th. The stock was acquired at an average price of $6.25 per share, with a total value of $150,000.00. Following the transaction, the director now owns 49,000 shares in the company, valued at approximately $306,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Brian J. Roney bought 16,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was bought at an average cost of $6.25 per share, with a total value of $100,000.00. Following the transaction, the president now owns 301,920 shares in the company, valued at approximately $1,887,000. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 260,000 shares of company stock valued at $1,625,000. 45.50% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Conifer Holdings stock. Northpointe Capital LLC grew its holdings in shares of Conifer Holdings, Inc. (NASDAQ:CNFR) by 22.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,190 shares of the insurance provider’s stock after acquiring an additional 58,484 shares during the period. Northpointe Capital LLC owned about 4.14% of Conifer Holdings worth $2,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 28.77% 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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