Wedbush Securities Inc. increased its stake in AmTrust Financial Services, Inc. (NASDAQ:AFSI) by 31.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,700 shares of the insurance provider’s stock after buying an additional 4,000 shares during the period. Wedbush Securities Inc.’s holdings in AmTrust Financial Services were worth $253,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of AmTrust Financial Services during the first quarter valued at approximately $121,000. SG Americas Securities LLC boosted its stake in shares of AmTrust Financial Services by 57.7% in the first quarter. SG Americas Securities LLC now owns 8,673 shares of the insurance provider’s stock valued at $160,000 after buying an additional 3,173 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of AmTrust Financial Services during the first quarter valued at about $170,000. Alpha Cubed Investments LLC acquired a new stake in shares of AmTrust Financial Services during the second quarter valued at about $200,000. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in shares of AmTrust Financial Services during the first quarter valued at about $211,000. Institutional investors and hedge funds own 47.52% of the company’s stock.
AmTrust Financial Services, Inc. (NASDAQ:AFSI) opened at 13.70 on Monday. The company’s 50-day moving average is $15.16 and its 200 day moving average is $17.46. AmTrust Financial Services, Inc. has a one year low of $11.80 and a one year high of $28.48. The company has a market capitalization of $2.68 billion, a P/E ratio of 13.31 and a beta of 1.16.
AmTrust Financial Services (NASDAQ:AFSI) last released its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. AmTrust Financial Services had a net margin of 5.14% and a return on equity of 14.26%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. On average, equities analysts anticipate that AmTrust Financial Services, Inc. will post $1.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date is Friday, September 29th. AmTrust Financial Services’s dividend payout ratio (DPR) is currently 51.13%.
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Several brokerages have recently issued reports on AFSI. Keefe, Bruyette & Woods restated a “hold” rating and set a $16.00 target price on shares of AmTrust Financial Services in a research report on Tuesday, May 2nd. BidaskClub upgraded shares of AmTrust Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. ValuEngine cut shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. TheStreet cut shares of AmTrust Financial Services from a “b-” rating to a “c” rating in a research report on Monday, May 1st. Finally, Compass Point restated a “buy” rating and set a $22.00 target price (down from $26.00) on shares of AmTrust Financial Services in a research report on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.50.
In related news, SVP Stephen Ungar sold 5,000 shares of AmTrust Financial Services stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $13.92, for a total value of $69,600.00. Following the completion of the transaction, the senior vice president now owns 175,256 shares in the company, valued at $2,439,563.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 50.80% of the company’s stock.
About AmTrust Financial Services
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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