What Happened: The sale was valued at $45 million, with potential additional earn-out payments up to $25 million based on future performance. The company also sold its remaining stake in Sycamore Specialty Underwriters for $6.5 million, with $3 million paid upfront and $3.5 million due by the end of 2024.

Consequently, Conifer has exited the insurance agency business and anticipates a substantial revenue decline. Also, CEO Nick Petcoff resigned and is joining the buyer, while Conifer’s President, Brian Roney, has been appointed as the new CEO.

Detailed information on these transactions will be provided in a Form 8-K filing with the SEC, expected by September 6.

Read Also: U.S. Manufacturing Activity Extends Contraction For Fifth Month: ‘Demand Continues To Be Weak’

Is CNFR A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Conifer Holdings‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Conifer Holdings does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 13.78%, you'll need to buy a share of Saba Cap Inc & Opps by the Sep. 10, 2024. Once done, you can expect to receive a nominal payout of $0.09 on Sep. 30, 2024.

According to data from Benzinga Pro, CNFR has a 52-week high of $1.50 and a 52-week low of $0.65.