Balyasny Asset Management LLC boosted its stake in AmTrust Financial Services, Inc. (NASDAQ:AFSI) by 574.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,104 shares of the insurance provider’s stock after acquiring an additional 185,743 shares during the quarter. Balyasny Asset Management LLC owned 0.11% of AmTrust Financial Services worth $3,302,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AFSI. Quantbot Technologies LP bought a new stake in AmTrust Financial Services in the 1st quarter valued at $121,000. SG Americas Securities LLC lifted its position in AmTrust Financial Services by 57.7% in the 1st quarter. SG Americas Securities LLC now owns 8,673 shares of the insurance provider’s stock valued at $160,000 after acquiring an additional 3,173 shares in the last quarter. Alpha Cubed Investments LLC bought a new stake in AmTrust Financial Services in the 2nd quarter valued at $200,000. Pacer Advisors Inc. lifted its position in AmTrust Financial Services by 3.4% in the 2nd quarter. Pacer Advisors Inc. now owns 14,972 shares of the insurance provider’s stock valued at $227,000 after acquiring an additional 495 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in AmTrust Financial Services in the 1st quarter valued at $234,000. 36.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of AmTrust Financial Services, Inc. (AFSI) opened at 13.74 on Wednesday. The company has a market capitalization of $2.69 billion, a PE ratio of 13.35 and a beta of 1.24. The firm’s 50-day moving average is $13.02 and its 200 day moving average is $14.55. AmTrust Financial Services, Inc. has a 12 month low of $11.36 and a 12 month high of $28.48.
AmTrust Financial Services (NASDAQ:AFSI) last released its quarterly earnings data on Tuesday, August 8th. The insurance provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. AmTrust Financial Services had a net margin of 5.14% and a return on equity of 14.26%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts predict that AmTrust Financial Services, Inc. will post $1.34 EPS for the current year.
The company 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 dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Friday, September 29th. AmTrust Financial Services’s payout ratio is currently 51.13%.
AFSI has been the topic of several research reports. ValuEngine cut shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. JMP Securities assumed coverage on shares of AmTrust Financial Services in a research report on Friday, July 7th. They issued an “outperform” rating and a $18.00 price objective on the stock. BidaskClub raised shares of AmTrust Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. TheStreet cut shares of AmTrust Financial Services from a “c” rating to a “d” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of AmTrust Financial Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.50.
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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