Boenning & Scattergood Releases a Buy Rating on 1347 Property Insurance Holdings Inc


In a report released today, Robert Farnam from Boenning & Scattergood assigned a Buy rating to 1347 Property Insurance Holdings Inc (NASDAQ: PIH), with a price target of $9. The company’s shares closed on Friday at $7.60.

Farnam observed:

“We project the company will generate double digit ROE on an annual basis. Based on expected ROE versus peers, PIH’s common shares appear to be undervalued. We rate the shares Outperform with a target price of $9.00.”

According to TipRanks.com, Farnam is a 1-star analyst with an average return of -1.1% and a 50.0% success rate. Farnam covers the Financial sector, focusing on stocks such as Hallmark Financial Services, Selective Insurance Group, and Kingstone Companies Inc.

1347 Property Insurance Holdings Inc has an analyst consensus of Hold.

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Based on 1347 Property Insurance Holdings Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $1.95 million. In comparison, last year the company had a net profit of $246K.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PIH in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

1347 Property Insurance Holdings, Inc. engages in the provision of property and casualty insurance services. It offers homeowners, manufactured home, and dwelling fire insurance through its subsidiary Maison Insurance Company. The company was founded on October 2, 2012 and is headquartered in Tampa, FL.

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