Harold J. Meloche Buys 4,000 Shares of Conifer Holdings, Inc. (CNFR) Stock
Conifer Holdings, Inc. (NASDAQ:CNFR) CFO Harold J. Meloche purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were acquired at an average cost of $6.25 per share, with a total value of $25,000.00. Following the completion of the purchase, the chief financial officer now directly owns 45,448 shares in the company, valued at approximately $284,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Conifer Holdings, Inc. (NASDAQ:CNFR) traded down 0.91% during mid-day trading on Monday, hitting $6.00. 371 shares of the stock were exchanged. Conifer Holdings, Inc. has a 12 month low of $6.00 and a 12 month high of $8.60. The stock’s market cap is $45.80 million. The company has a 50-day moving average price of $6.68 and a 200-day moving average price of $6.68.
Conifer Holdings (NASDAQ:CNFR) last announced its earnings results on Wednesday, August 9th. The insurance provider reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.31). The company had revenue of $26.28 million for the quarter, compared to analysts’ expectations of $24.98 million. Conifer Holdings had a negative return on equity of 14.14% and a negative net margin of 8.65%. Equities analysts expect that Conifer Holdings, Inc. will post ($0.59) earnings per share for the current year.
Several brokerages have commented on CNFR. Zacks Investment Research raised Conifer Holdings from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th. Boenning Scattergood started coverage on Conifer Holdings in a research note on Wednesday, August 16th. They issued a “neutral” rating on the stock.
Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted 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 worth $1,067,000 after acquiring an additional 1,200 shares during the last quarter. Northpointe Capital LLC boosted its position in shares of Conifer Holdings by 22.7% during the 2nd quarter. Northpointe Capital LLC now owns 316,190 shares of the insurance provider’s stock worth $2,182,000 after purchasing an additional 58,484 shares during the period. Finally, Aegis Financial Corp boosted its position in shares of Conifer Holdings by 49.8% during the 1st quarter. Aegis Financial Corp now owns 686,614 shares of the insurance provider’s stock worth $5,012,000 after purchasing an additional 228,175 shares during the period. 28.92% of the stock is currently owned by institutional investors and hedge funds.
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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