Conifer Holdings, Inc. (NASDAQ:CNFR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors 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 began coverage on Conifer Holdings in a report on Wednesday. They issued a “neutral” rating on the stock.

Shares of Conifer Holdings (NASDAQ CNFR) remained flat at $6.65 during midday trading on Wednesday. The company had a trading volume of 61 shares. The stock’s 50 day moving average is $6.99 and its 200 day moving average is $7.24. The firm’s market capitalization is $50.76 million. Conifer Holdings has a 12 month low of $6.50 and a 12 month high of $9.02.

Conifer Holdings (NASDAQ:CNFR) last released its earnings results on Wednesday, August 9th. The insurance provider reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.31. The company had revenue of $26.28 million during the quarter, compared to analyst estimates of $24.98 million. Conifer Holdings had a negative net margin of 8.65% and a negative return on equity of 14.14%. Equities research analysts anticipate that Conifer Holdings will post ($0.54) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northpointe Capital LLC raised its position in shares of Conifer Holdings by 22.7% in the second quarter. Northpointe Capital LLC now owns 316,190 shares of the insurance provider’s stock worth $2,182,000 after buying an additional 58,484 shares in the last quarter. Aegis Financial Corp raised its position in shares of Conifer Holdings by 49.8% in the first quarter. Aegis Financial Corp now owns 686,614 shares of the insurance provider’s stock worth $5,012,000 after buying an additional 228,175 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its position in shares of 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 worth $2,116,000 after buying an additional 27,544 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Conifer Holdings by 0.8% in the first quarter. Wells Fargo & Company MN now owns 149,245 shares of the insurance provider’s stock worth $1,067,000 after buying an additional 1,200 shares in the last quarter. 33.49% of the stock is currently owned by institutional investors and hedge funds.

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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