Conifer Holdings, Inc. (CNFR) Stock Rating Reaffirmed by Boenning Scattergood

Boenning Scattergood reaffirmed their hold rating on shares of Conifer Holdings, Inc. (NASDAQ:CNFR) in a research report released on Thursday. Boenning Scattergood also issued estimates for Conifer Holdings’ Q2 2018 earnings at $0.09 EPS, 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.

“We do not expect much multiple expansion in the near-term and maintain our Neutral rating.”,” Boenning Scattergood’s analyst commented.

Separately, Zacks Investment Research raised shares of Conifer Holdings from a strong sell rating to a hold rating in a research report on Monday, July 17th.

Shares of Conifer Holdings (CNFR) remained flat at $$6.25 during mid-day trading on Thursday. The stock had a trading volume of 1,000 shares, compared to its average volume of 8,158. Conifer Holdings has a 12-month low of $6.00 and a 12-month high of $8.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.54 and a quick ratio of 0.54.

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In related news, Director Joseph D. Sarafa bought 24,000 shares of the company’s stock in a transaction on Friday, September 29th. The shares were purchased at an average cost of $6.25 per share, for a total transaction of $150,000.00. Following the completion of the purchase, the director now directly owns 49,000 shares in the company, valued at $306,250. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Brian J. Roney bought 16,000 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was bought at an average price of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the president now owns 301,920 shares of the company’s stock, valued at $1,887,000. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 260,000 shares of company stock worth $1,625,000. Corporate insiders own 45.50% of the company’s stock.

A hedge fund recently raised its stake in Conifer Holdings stock. Northpointe Capital LLC raised its stake in Conifer Holdings, Inc. (NASDAQ:CNFR) by 22.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 316,190 shares of the insurance provider’s stock after acquiring an additional 58,484 shares during the quarter. Northpointe Capital LLC owned approximately 4.14% of Conifer Holdings worth $2,182,000 as of its most recent filing with the Securities & Exchange Commission. 28.97% of the stock is owned by institutional investors.

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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