Brokerages Set $8.00 Target Price for Conifer Holdings Inc (CNFR)

Conifer Holdings Inc (NASDAQ:CNFR) has been given an average broker rating score of 2.50 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a buy rating to the company.

Analysts have set a 1 year consensus price target of $8.00 for the company and are predicting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned Conifer an industry rank of 191 out of 265 based on the ratings given to related companies.

Several brokerages have recently commented on CNFR. Boenning Scattergood restated a “hold” rating on shares of Conifer in a research report on Thursday, November 9th. Zacks Investment Research downgraded shares of Conifer from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 16th.

In related news, President Brian J. Roney purchased 16,000 shares of Conifer stock in a transaction on Thursday, September 28th. The shares were bought at an average cost 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 Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James G. Petcoff purchased 216,000 shares of Conifer stock in a transaction on Friday, September 29th. The stock was bought at an average price of $6.25 per share, for a total transaction of $1,350,000.00. Following the completion of the acquisition, the chairman now owns 258,057 shares in the company, valued at approximately $1,612,856.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 260,000 shares of company stock worth $1,625,000 and have sold 56,912 shares worth $348,444. 45.50% of the stock is owned by company insiders.

An institutional investor recently raised its position in Conifer stock. Northpointe Capital LLC grew its holdings in Conifer Holdings Inc (NASDAQ:CNFR) by 22.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 316,190 shares of the insurance provider’s stock after buying an additional 58,484 shares during the period. Northpointe Capital LLC owned approximately 4.14% of Conifer worth $2,182,000 as of its most recent filing with the Securities & Exchange Commission. 25.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Conifer (NASDAQ CNFR) traded up $0.10 during trading on Friday, hitting $6.00. Conifer has a 1-year low of $5.50 and a 1-year high of $8.20. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.55.

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Conifer 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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