Conifer Holdings, Inc. (CNFR) Expected to Earn Q3 2018 Earnings of $0.10 Per Share
Conifer Holdings, Inc. (NASDAQ:CNFR) – Investment analysts at Boenning Scattergood issued their Q3 2018 earnings per share estimates for Conifer Holdings in a research note issued on Thursday. Boenning Scattergood analyst R. Farnam expects that the insurance provider will earn $0.10 per share for the quarter. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Conifer Holdings’ Q4 2018 earnings at $0.12 EPS and FY2019 earnings at $0.60 EPS.
Separately, Zacks Investment Research upgraded Conifer Holdings from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th.
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Conifer Holdings (NASDAQ:CNFR) last issued its quarterly earnings data on Wednesday, August 9th. The insurance provider reported ($0.28) earnings per share 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 during the quarter, compared to analyst estimates of $24.98 million.
In related news, Director Joseph D. Sarafa purchased 24,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was purchased at an average cost of $6.25 per share, for a total transaction of $150,000.00. Following the acquisition, the director now owns 49,000 shares in the company, valued at $306,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Brian J. Roney purchased 16,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was bought at an average price of $6.25 per share, with a total value of $100,000.00. Following the completion of the acquisition, the president now owns 301,920 shares in the company, valued at approximately $1,887,000. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 260,000 shares of company stock valued at $1,625,000. 45.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in shares of Conifer Holdings by 0.8% during the first quarter. Wells Fargo & Company MN now owns 149,245 shares of the insurance provider’s stock valued at $1,067,000 after acquiring an additional 1,200 shares in the last quarter. Northpointe Capital LLC grew its stake in shares of Conifer Holdings by 22.7% during the second quarter. Northpointe Capital LLC now owns 316,190 shares of the insurance provider’s stock valued at $2,182,000 after acquiring an additional 58,484 shares in the last quarter. Finally, Aegis Financial Corp grew its stake in shares of Conifer Holdings by 49.8% during the first quarter. Aegis Financial Corp now owns 686,614 shares of the insurance provider’s stock valued at $5,012,000 after acquiring an additional 228,175 shares in the last quarter. Hedge funds and other institutional investors own 28.92% of the company’s stock.
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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