AmTrust Financial Services EVP Christopher Longo Unloads 11,425 Shares (AFSI)
AmTrust Financial Services (NASDAQ:AFSI) EVP Christopher Longo unloaded 11,425 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $44.07, for a total value of $503,499.75. Following the completion of the transaction, the executive vice president now directly owns 151,407 shares in the company, valued at approximately $6,672,506. 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 down 0.86% on Tuesday, hitting $43.76. 352,351 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 $47.10. The stock’s 50-day moving average is $42.23 and its 200-day moving average is $39.44. The company has a market cap of $3.301 billion and a P/E ratio of 10.38.
AmTrust Financial Services (NASDAQ:AFSI) last announced its earnings results on Thursday, August 7th. The company reported $1.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.00 by $0.33. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $824.40 million. During the same quarter in the prior year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 55.6% on a year-over-year basis. On average, analysts predict that AmTrust Financial Services will post $4.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Wednesday, October 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 Monday, September 29th.
A number of analysts have recently weighed in on AFSI shares. Analysts at FBR Capital Markets raised their price target on shares of AmTrust Financial Services from $50.00 to $56.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at JMP Securities raised their price target on shares of AmTrust Financial Services to $50.00 in a research note on Friday. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of AmTrust Financial Services from $44.00 to $48.00 in a research note on Friday. They now have a “market perform” rating on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $51.50.
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.