Conifer Holdings, Inc. (CNFR) to Post Q3 2017 Earnings of ($2.35) Per Share, Boenning Scattergood Forecasts
Conifer Holdings, Inc. (NASDAQ:CNFR) – Investment analysts at Boenning Scattergood issued their Q3 2017 earnings per share estimates for Conifer Holdings in a note issued to investors on Wednesday. Boenning Scattergood analyst R. Farnam anticipates that the insurance provider will post earnings per share of ($2.35) for the quarter. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Conifer Holdings’ FY2017 earnings at ($2.64) EPS and FY2018 earnings at $0.30 EPS.
Separately, Zacks Investment Research upgraded shares of Conifer Holdings from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th.
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Shares of Conifer Holdings (NASDAQ CNFR) opened at 7.15 on Friday. Conifer Holdings has a 52-week low of $6.00 and a 52-week high of $8.41. The company’s 50-day moving average is $6.43 and its 200-day moving average is $6.43. The stock’s market cap is $54.58 million.
Conifer Holdings (NASDAQ:CNFR) last posted its earnings results on Wednesday, August 9th. The insurance provider reported ($0.28) EPS for the quarter, missing the Zacks’ 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 firm had revenue of $26.28 million for the quarter, compared to analysts’ expectations of $24.98 million.
Institutional investors have recently modified their holdings of the company. Aegis Financial Corp boosted its holdings in shares of Conifer Holdings by 49.8% in the 1st 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. Wells Fargo & Company MN boosted its holdings in shares of Conifer Holdings by 0.8% in the 1st 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. Finally, Northpointe Capital LLC boosted its holdings in shares of Conifer Holdings by 22.7% in the 2nd 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. Institutional investors and hedge funds own 28.92% of the company’s stock.
In related news, President Brian J. Roney bought 16,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was acquired at an average price of $6.25 per share, for a total transaction of $100,000.00. Following the acquisition, the president now owns 301,920 shares in the company, valued at approximately $1,887,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph D. Sarafa bought 24,000 shares of the stock in a transaction dated Friday, September 29th. The stock was bought at an average price of $6.25 per share, with a total value of $150,000.00. Following the acquisition, the director now owns 49,000 shares in the company, valued at approximately $306,250. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 260,000 shares of company stock valued at $1,625,000. Company insiders own 45.50% 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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