Amtrust Financial Services Director Acquires $4,333,000 in Stock (AFSI)
Amtrust Financial Services (NASDAQ:AFSI) Director George Karfunkel acquired 100,000 shares of Amtrust Financial Services stock on the open market in a transaction dated Thursday, August 21st. The stock was purchased at an average price of $43.33 per share, for a total transaction of $4,333,000.00. Following the acquisition, the director now directly owns 9,871,286 shares in the company, valued at approximately $427,722,822. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Amtrust Financial Services (NASDAQ:AFSI) traded down 1.37% during mid-day trading on Thursday, hitting $43.15. 526,074 shares of the company’s stock traded hands. Amtrust Financial Services has a one year low of $27.90 and a one year high of $47.10. The stock’s 50-day moving average is $42.67 and its 200-day moving average is $39.99. The company has a market cap of $3.263 billion and a price-to-earnings ratio of 10.28.
Amtrust Financial Services (NASDAQ:AFSI) last announced its earnings results on Thursday, August 7th. The company reported $1.33 earnings per share (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. Analysts expect that Amtrust Financial Services will post $4.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, September 29th.
Several analysts have recently commented on the stock. 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, August 11th. 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, August 8th. 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, August 8th. They now have a “market perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Amtrust Financial Services has a consensus rating of “Buy” and a consensus 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.
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