Insider Selling: Michael Saxon Sells 8,417 Shares of AmTrust Financial Services Stock (AFSI)
AmTrust Financial Services (NASDAQ:AFSI) COO Michael Saxon sold 8,417 shares of AmTrust Financial Services stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.59, for a total value of $307,978.03. Following the completion of the sale, the chief operating officer now directly owns 188,198 shares in the company. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AFSI has been the subject of a number of recent research reports. 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 issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $45.42.
AmTrust Financial Services (NASDAQ:AFSI) traded up 2.18% on Monday, hitting $37.05. The stock had a trading volume of 750,571 shares. AmTrust Financial Services has a 52 week low of $21.7273 and a 52 week high of $41.72. The stock’s 50-day moving average is $37.41 and its 200-day moving average is $32.9. The company has a market cap of $2.758 billion and a P/E ratio of 10.63.
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 in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 66.4% on a year-over-year basis. 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 1.51%. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.