AmTrust Financial Services EVP Sells $333,218 in Stock (AFSI)
AmTrust Financial Services (NASDAQ:AFSI) EVP Christopher Longo sold 9,625 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $34.62, for a total value of $333,217.50. Following the transaction, the executive vice president now directly owns 48,395 shares in the company. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on AFSI. Analysts at Keefe, Bruyette & Woods reiterated a “hold” rating on shares of AmTrust Financial Services (NASDAQ:AFSI) in a research note to investors on Tuesday, August 20th. They now have a $48.00 price target on the stock. Separately, analysts at Zacks downgraded shares of AmTrust Financial Services (NASDAQ:AFSI) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 31st. They now have a $45.10 price target on the stock. Finally, analysts at Compass Point downgraded shares of AmTrust Financial Services (NASDAQ:AFSI) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, July 23rd. They now have a $43.00 price target on the stock, up previously from $38.00.
Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $45.42.
AmTrust Financial Services (NASDAQ:AFSI) traded up 0.49% on Wednesday, hitting $34.85. The stock had a trading volume of 350,039 shares. AmTrust Financial Services has a 1-year low of $21.7273 and a 1-year high of $41.72. The stock has a 50-day moving average of $37.52 and a 200-day moving average of $32.9. The company has a market cap of $2.594 billion and a price-to-earnings ratio of 10.16.
AmTrust Financial Services (NASDAQ:AFSI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.10. The company had revenue of $716.49 million for the quarter, compared to the consensus estimate of $466.40 million. During the same quarter last year, the company posted $0.72 earnings per share. AmTrust Financial Services’s revenue was up 66.4% compared to the same quarter last year. On average, analysts predict that AmTrust Financial Services will post $3.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, September 27th. This is a positive change from AmTrust Financial Services’s previous quarterly dividend of $0.13.
Amtrust Financial Services, Inc is a holding company. The Company is a multinational specialty property and casualty insurer focused on generating consistent underwriting profits.
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