JMP Securities initiated coverage on shares of AmTrust Financial Services, Inc. (NASDAQ:AFSI) in a research report sent to investors on Friday. The brokerage issued an outperform rating and a $18.00 price objective on the insurance provider’s stock.
A number of other research analysts also recently commented on the company. BidaskClub raised AmTrust Financial Services from a sell rating to a hold rating in a research note on Thursday, June 29th. FBR & Co reaffirmed an outperform rating and issued a $22.00 price target (up previously from $16.00) on shares of AmTrust Financial Services in a research note on Friday, June 9th. ValuEngine downgraded AmTrust Financial Services from a buy rating to a hold rating in a research note on Friday, June 2nd. Compass Point reaffirmed a buy rating and issued a $22.00 price target (down previously from $26.00) on shares of AmTrust Financial Services in a research note on Tuesday, May 30th. Finally, Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $16.00 price target on shares of AmTrust Financial Services in a research note on Friday, May 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. AmTrust Financial Services presently has a consensus rating of Hold and a consensus price target of $19.50.
AmTrust Financial Services (NASDAQ:AFSI) traded down 2.09% during midday trading on Friday, hitting $14.98. 1,547,698 shares of the stock traded hands. The stock has a market capitalization of $2.57 billion, a PE ratio of 8.59 and a beta of 1.15. The firm’s 50 day moving average is $13.48 and its 200-day moving average is $20.39. AmTrust Financial Services has a 12-month low of $11.80 and a 12-month high of $28.48.
AmTrust Financial Services (NASDAQ:AFSI) last posted its earnings results on Monday, May 8th. The insurance provider reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.32. AmTrust Financial Services had a return on equity of 16.55% and a net margin of 7.55%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the business posted $0.77 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts anticipate that AmTrust Financial Services will post $1.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Thursday, June 29th. AmTrust Financial Services’s dividend payout ratio (DPR) is presently 32.69%.
In related news, SVP Stephen Ungar sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was 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 of the company’s stock, valued at $2,439,563.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 15,000 shares of company stock valued at $213,050. 42.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFSI. Vanguard Group Inc. boosted its position in AmTrust Financial Services by 33.6% in the first quarter. Vanguard Group Inc. now owns 8,667,061 shares of the insurance provider’s stock worth $159,994,000 after buying an additional 2,181,846 shares in the last quarter. Edge Asset Management Inc. boosted its position in AmTrust Financial Services by 24.9% in the first quarter. Edge Asset Management Inc. now owns 5,082,376 shares of the insurance provider’s stock worth $93,819,000 after buying an additional 1,013,216 shares in the last quarter. FMR LLC boosted its position in AmTrust Financial Services by 9.0% in the fourth quarter. FMR LLC now owns 3,598,480 shares of the insurance provider’s stock worth $98,527,000 after buying an additional 297,900 shares in the last quarter. Principal Financial Group Inc. boosted its position in AmTrust Financial Services by 50.1% in the first quarter. Principal Financial Group Inc. now owns 2,298,469 shares of the insurance provider’s stock worth $42,430,000 after buying an additional 767,278 shares in the last quarter. Finally, State Street Corp boosted its position in AmTrust Financial Services by 25.6% in the first quarter. State Street Corp now owns 2,136,486 shares of the insurance provider’s stock worth $39,436,000 after buying an additional 435,258 shares in the last quarter. Hedge funds and other institutional investors own 45.37% 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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