Rhumbline Advisers cut its holdings in shares of AmTrust Financial Services Inc (NASDAQ:AFSI) by 13.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,910 shares of the insurance provider’s stock after selling 24,490 shares during the period. Rhumbline Advisers owned about 0.08% of AmTrust Financial Services worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of AFSI. Sapphire Star Partners LP purchased a new position in AmTrust Financial Services in the third quarter valued at $153,000. Paragon Capital Management Ltd purchased a new position in AmTrust Financial Services in the third quarter valued at $165,000. Symons Capital Management Inc. purchased a new position in AmTrust Financial Services in the third quarter valued at $172,000. Raymond James Financial Services Advisors Inc. increased its holdings in AmTrust Financial Services by 4.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,181 shares of the insurance provider’s stock valued at $200,000 after buying an additional 506 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in AmTrust Financial Services by 3.4% in the second quarter. Pacer Advisors Inc. now owns 14,972 shares of the insurance provider’s stock valued at $227,000 after buying an additional 495 shares in the last quarter. Institutional investors own 33.68% of the company’s stock.
A number of research analysts have weighed in on the stock. FBR & Co cut shares of AmTrust Financial Services from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a report on Tuesday, October 24th. Zacks Investment Research raised shares of AmTrust Financial Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 10th. ValuEngine cut shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a report on Friday, September 1st. B. Riley reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of AmTrust Financial Services in a report on Monday, November 6th. Finally, JMP Securities cut shares of AmTrust Financial Services from an “outperform” rating to a “market perform” rating in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.33.
AmTrust Financial Services (NASDAQ:AFSI) last released its earnings results on Wednesday, November 8th. The insurance provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.29 billion. AmTrust Financial Services had a return on equity of 9.07% and a net margin of 0.49%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. research analysts forecast that AmTrust Financial Services Inc will post 0.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.53%. AmTrust Financial Services’s dividend payout ratio is currently -424.97%.
In related news, SVP Ariel Gorelik bought 2,962 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $9.33 per share, with a total value of $27,635.46. Following the completion of the purchase, the senior vice president now directly owns 5,977 shares of the company’s stock, valued at $55,765.41. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 50.80% of the stock is owned by insiders.
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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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