AmTrust Financial Services Inc. (AFSI) Given Average Rating of “Buy” by Brokerages
AmTrust Financial Services Inc. (NASDAQ:AFSI) has received an average rating of “Buy” from the six ratings firms that are presently covering the stock. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $34.00.
Several analysts have recently weighed in on the company. Zacks Investment Research raised AmTrust Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. FBR & Co reissued a “buy” rating on shares of AmTrust Financial Services in a report on Wednesday, June 29th.
Shares of AmTrust Financial Services (NASDAQ:AFSI) traded up 0.488% during mid-day trading on Monday, hitting $27.815. The stock had a trading volume of 308,251 shares. The stock has a 50 day moving average price of $26.62 and a 200-day moving average price of $25.68. The company has a market cap of $4.75 billion, a PE ratio of 9.980 and a beta of 1.10. AmTrust Financial Services has a 52-week low of $23.55 and a 52-week high of $35.63.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/amtrust-financial-services-inc-afsi-given-average-rating-of-buy-by-brokerages.html
AmTrust Financial Services (NASDAQ:AFSI) last posted its earnings results on Tuesday, August 2nd. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.07. AmTrust Financial Services had a return on equity of 21.66% and a net margin of 10.18%. The business earned $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $0.78 EPS. The business’s quarterly revenue was up 25.7% on a year-over-year basis. On average, equities analysts expect that AmTrust Financial Services will post $3.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, October 3rd. This is an increase from AmTrust Financial Services’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 2.46%. AmTrust Financial Services’s dividend payout ratio is currently 24.33%.
In other news, SVP Stephen Ungar sold 5,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $25.93, for a total transaction of $129,650.00. Following the completion of the transaction, the senior vice president now directly owns 169,518 shares of the company’s stock, valued at approximately $4,395,601.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael J. Saxon sold 9,000 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $24.59, for a total value of $221,310.00. Following the transaction, the executive vice president now directly owns 587,434 shares of the company’s stock, valued at $14,445,002.06. The disclosure for this sale can be found here. Company insiders own 42.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of AmTrust Financial Services by 108.8% in the first quarter. State Street Corp now owns 1,432,504 shares of the company’s stock worth $37,068,000 after buying an additional 746,454 shares during the period. Miles Capital Inc. increased its position in shares of AmTrust Financial Services by 98.1% in the first quarter. Miles Capital Inc. now owns 11,514 shares of the company’s stock worth $298,000 after buying an additional 5,701 shares during the period. OMERS ADMINISTRATION Corp increased its position in shares of AmTrust Financial Services by 193.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 47,300 shares of the company’s stock worth $1,224,000 after buying an additional 31,200 shares during the period. Canada Pension Plan Investment Board increased its position in shares of AmTrust Financial Services by 104.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,300 shares of the company’s stock worth $111,000 after buying an additional 2,200 shares during the period. Finally, BlackRock Japan Co. Ltd increased its position in shares of AmTrust Financial Services by 217.7% in the first quarter. BlackRock Japan Co. Ltd now owns 22,504 shares of the company’s stock worth $582,000 after buying an additional 15,420 shares during the period. 42.74% of the stock is owned by institutional investors and hedge funds.
AmTrust Financial Services Company Profile
Amtrust Financial Services, Inc (AmTrust) is an insurance holding company. The Company, through its subsidiaries, provides specialty property and casualty insurance focusing on workers’ compensation and commercial package coverage for small business, specialty risk and extended warranty coverage, and property and casualty coverage for middle market business.
Receive News & Ratings for AmTrust Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmTrust Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.