Conifer (CNFR) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Conifer (NASDAQ:CNFR) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $6.25 price target on the insurance provider’s stock.

According to Zacks, “Conifer Holdings, Inc. is an insurance holding company. It offers insurance coverage in specialty commercial and specialty personal product lines. Specialty personal product lines offers non-standard homeowners insurance and dwelling fire insurance products to individuals. Specialty commercial lines offer coverage for both commercial property and commercial liability. The company serves restaurants, bars, taverns, bowling centers as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians and other independent contractors, security service providers. Conifer Holdings, Inc. is headquartered in Birmingham, Michigan. “

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Several other analysts also recently commented on the stock. Sandler O’Neill reaffirmed a hold rating and issued a $5.50 price objective on shares of Conifer in a report on Friday, March 2nd. Boenning Scattergood reaffirmed a hold rating on shares of Conifer in a report on Thursday, March 1st.

Shares of Conifer (CNFR) opened at $5.95 on Tuesday. The firm has a market cap of $51.12, a P/E ratio of -2.12 and a beta of 1.37. Conifer has a 12-month low of $5.00 and a 12-month high of $8.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.46 and a current ratio of 0.46.

Conifer (NASDAQ:CNFR) last released its earnings results on Wednesday, February 28th. The insurance provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $26.55 million for the quarter, compared to the consensus estimate of $24.81 million. Conifer had a negative net margin of 22.25% and a negative return on equity of 38.31%. equities analysts expect that Conifer will post 0.3 earnings per share for the current year.

In other Conifer news, President Brian J. Roney acquired 10,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were acquired at an average cost of $6.00 per share, with a total value of $60,000.00. Following the acquisition, the president now directly owns 311,920 shares of the company’s stock, valued at $1,871,520. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 45.50% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC lifted its position in Conifer Holdings (NASDAQ:CNFR) by 69.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 about 6.28% of Conifer worth $3,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 27.30% of the company’s stock.

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About Conifer

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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