Alpha Cubed Investments LLC purchased a new position in AmTrust Financial Services Inc (NASDAQ:AFSI) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 13,200 shares of the insurance provider’s stock, valued at approximately $200,000.
Other institutional investors also recently modified their holdings of the company. Comerica Bank bought a new position in shares of AmTrust Financial Services during the fourth quarter worth approximately $208,000. Norges Bank bought a new position in shares of AmTrust Financial Services during the fourth quarter worth approximately $25,606,000. Integrated Investment Consultants LLC bought a new position in shares of AmTrust Financial Services during the first quarter worth approximately $109,000. Denali Advisors LLC raised its position in shares of AmTrust Financial Services by 309.4% in the first quarter. Denali Advisors LLC now owns 104,400 shares of the insurance provider’s stock worth $1,927,000 after buying an additional 78,900 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of AmTrust Financial Services by 9.6% in the first quarter. Bank of Montreal Can now owns 20,776 shares of the insurance provider’s stock worth $384,000 after buying an additional 1,827 shares during the last quarter. 44.65% of the stock is currently owned by hedge funds and other institutional investors.
AmTrust Financial Services Inc (NASDAQ AFSI) traded up 1.88% during trading on Friday, hitting $14.08. 1,201,106 shares of the company traded hands. The company’s 50 day moving average is $15.32 and its 200-day moving average is $17.92. AmTrust Financial Services Inc has a 52 week low of $11.80 and a 52 week high of $28.48. The stock has a market capitalization of $2.76 billion, a PE ratio of 13.68 and a beta of 1.16.
AmTrust Financial Services (NASDAQ:AFSI) last announced its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. AmTrust Financial Services had a negative net margin of 2.49% and a positive return on equity of 0.91%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. AmTrust Financial Services’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts predict that AmTrust Financial Services Inc will post $1.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.83%. The ex-dividend date is Friday, September 29th. AmTrust Financial Services’s dividend payout ratio is presently 51.13%.
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A number of equities analysts have recently commented on AFSI shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 price target on shares of AmTrust Financial Services in a report on Tuesday, May 2nd. TheStreet lowered shares of AmTrust Financial Services from a “b-” rating to a “c” rating in a report on Monday, May 1st. Compass Point reaffirmed a “buy” rating and set a $22.00 target price (down previously from $26.00) on shares of AmTrust Financial Services in a report on Tuesday, May 30th. ValuEngine lowered shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, FBR & Co reaffirmed an “outperform” rating and set a $22.00 target price (up previously from $16.00) on shares of AmTrust Financial Services in a report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.50.
In other AmTrust Financial Services news, SVP Stephen Ungar sold 5,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $13.92, for a total transaction of $69,600.00. Following the transaction, the senior vice president now owns 175,256 shares in the company, valued at $2,439,563.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 50.80% of the company’s stock.
AmTrust Financial Services Company Profile
Amtrust Financial Services, Inc (AmTrust) is an insurance holding company. The Company, through its subsidiaries, provides specialty property and casualty insurance focusing on workers’ compensation and commercial package coverage for small business, specialty risk and extended warranty coverage, and property and casualty coverage for middle market business.
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