AmTrust Financial Services COO Sells $895,868 in Stock (AFSI)
AmTrust Financial Services (NASDAQ:AFSI) COO Michael J. Saxon unloaded 20,538 shares of AmTrust Financial Services stock on the open market in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $43.62, for a total transaction of $895,867.56. Following the completion of the transaction, the chief operating officer now directly owns 279,217 shares of the company’s stock, valued at approximately $12,179,446. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of AmTrust Financial Services (NASDAQ:AFSI) traded up 0.43% on Tuesday, hitting $44.23. 456,809 shares of the company’s stock traded hands. AmTrust Financial Services has a 52-week low of $27.90 and a 52-week high of $44.75. The stock has a 50-day moving average of $39.3 and a 200-day moving average of $36.95. The company has a market cap of $3.336 billion and a P/E ratio of 11.40.
AmTrust Financial Services (NASDAQ:AFSI) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.36. The company had revenue of $954.00 million for the quarter, compared to the consensus estimate of $687.18 million. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, analysts predict that AmTrust Financial Services will post $4.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, June 27th.
AFSI has been the subject of a number of recent research reports. Analysts at Compass Point upgraded shares of AmTrust Financial Services from a “neutral” rating to a “buy” rating in a research note on Friday, May 2nd. They now have a $49.00 price target on the stock, up previously from $37.00. Analysts at Zacks downgraded shares of AmTrust Financial Services from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 22nd. They now have a $41.70 price target on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $45.94.
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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