Conifer Holdings, Inc. (CNFR) Downgraded by Zacks Investment Research to “Strong Sell”
Conifer Holdings, Inc. (NASDAQ:CNFR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.
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. “
Separately, Boenning Scattergood assumed coverage on shares of Conifer Holdings in a research note on Wednesday. They issued a “neutral” rating for the company.
Shares of Conifer Holdings (NASDAQ:CNFR) remained flat at $6.65 during trading on Wednesday. The company’s stock had a trading volume of 61 shares. Conifer Holdings has a 52-week low of $6.50 and a 52-week high of $9.02. The firm’s market cap is $50.76 million. The firm’s 50-day moving average is $6.99 and its 200-day moving average is $7.24.
Conifer Holdings (NASDAQ:CNFR) last released its quarterly earnings data on Wednesday, August 9th. The insurance provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.31. Conifer Holdings had a negative net margin of 8.65% and a negative return on equity of 14.14%. The company had revenue of $26.28 million during the quarter, compared to analyst estimates of $24.98 million. Equities analysts expect that Conifer Holdings will post ($0.54) earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in CNFR. Northpointe Capital LLC increased its position in Conifer Holdings by 22.7% in the second quarter. Northpointe Capital LLC now owns 316,190 shares of the insurance provider’s stock valued at $2,182,000 after buying an additional 58,484 shares in the last quarter. Aegis Financial Corp increased its position in Conifer Holdings by 49.8% in the first quarter. Aegis Financial Corp now owns 686,614 shares of the insurance provider’s stock valued at $5,012,000 after buying an additional 228,175 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its position in Conifer Holdings by 10.5% in the first quarter. Pacific Ridge Capital Partners LLC now owns 289,883 shares of the insurance provider’s stock valued at $2,116,000 after buying an additional 27,544 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Conifer Holdings by 0.8% in the first quarter. Wells Fargo & Company MN now owns 149,245 shares of the insurance provider’s stock valued at $1,067,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 33.49% of the company’s stock.
Conifer Holdings 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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