StockNews.com Initiates Coverage on Atlantic American (NASDAQ:AAME)

StockNews.com started coverage on shares of Atlantic American (NASDAQ:AAME) in a report published on Tuesday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Atlantic American Trading Up 0.5 %

Shares of NASDAQ:AAME opened at $1.96 on Tuesday. The company has a 50 day moving average of $2.53 and a 200-day moving average of $2.25. The firm has a market cap of $39.98 million, a P/E ratio of -65.31 and a beta of 0.32. Atlantic American has a twelve month low of $1.49 and a twelve month high of $3.00.

Atlantic American (NASDAQ:AAME) last released its quarterly earnings results on Monday, April 1st. The financial services provider reported ($0.21) earnings per share (EPS) for the quarter. The firm had revenue of $46.75 million for the quarter. Atlantic American had a negative net margin of 0.09% and a negative return on equity of 0.31%.

Atlantic American Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $0.02 per share. This represents a dividend yield of 0.78%. The ex-dividend date is Thursday, April 11th. Atlantic American’s dividend payout ratio (DPR) is currently -66.64%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Atlantic American during the 4th quarter worth approximately $43,000. BlackRock Inc. grew its stake in shares of Atlantic American by 62.1% in the second quarter. BlackRock Inc. now owns 44,945 shares of the financial services provider’s stock valued at $87,000 after buying an additional 17,212 shares in the last quarter. Finally, Independent Advisor Alliance bought a new position in Atlantic American during the fourth quarter worth $32,000. Institutional investors own 5.48% of the company’s stock.

Atlantic American Company Profile

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. It operates through American Southern and Bankers Fidelity segments. The company offers property and casualty insurance products, including commercial automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; general liability; and inland marine insurance products.