AmTrust Financial Services Inc. (AFSI) Sees Strong Trading Volume
AmTrust Financial Services Inc. (NASDAQ:AFSI) shares saw strong trading volume on Wednesday . 776,298 shares were traded during mid-day trading, a decline of 13% from the previous session’s volume of 892,091 shares.The stock last traded at $24.38 and had previously closed at $24.87.
A number of equities analysts recently issued reports on the company. FBR & Co reaffirmed a “buy” rating on shares of AmTrust Financial Services in a report on Wednesday, May 4th. Zacks Investment Research raised AmTrust Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, SunTrust Banks Inc. reaffirmed a “buy” rating on shares of AmTrust Financial Services in a report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.25.
The company has a 50 day moving average of $25.27 and a 200-day moving average of $26.08. The company has a market capitalization of $4.30 billion and a price-to-earnings ratio of 10.19.
AmTrust Financial Services (NASDAQ:AFSI) last announced its earnings results on Tuesday, May 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.10 billion. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 earnings per share. On average, equities analysts forecast that AmTrust Financial Services Inc. will post $2.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, June 29th. This represents a $0.60 annualized dividend and a dividend yield of 2.42%.
In related news, SVP Stephen Ungar sold 3,000 shares of the firm’s stock in a transaction dated Friday, April 15th. The stock was sold at an average price of $25.10, for a total transaction of $75,300.00. Following the sale, the senior vice president now directly owns 163,686 shares in the company, valued at approximately $4,108,518.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ronald E. Pipoly, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $25.61, for a total value of $102,440.00. Following the sale, the chief financial officer now owns 583,313 shares in the company, valued at $14,938,645.93. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in shares of AmTrust Financial Services by 6.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 41,838 shares of the company’s stock valued at $2,576,000 after buying an additional 2,380 shares during the last quarter. Swiss National Bank raised its stake in shares of AmTrust Financial Services by 14.4% in the fourth quarter. Swiss National Bank now owns 57,890 shares of the company’s stock worth $3,565,000 after buying an additional 7,300 shares during the period. Sei Investments Co. raised its stake in shares of AmTrust Financial Services by 2,893.5% in the fourth quarter. Sei Investments Co. now owns 60,438 shares of the company’s stock worth $3,721,000 after buying an additional 58,419 shares during the period. First Trust Advisors LP raised its stake in shares of AmTrust Financial Services by 12.1% in the fourth quarter. First Trust Advisors LP now owns 153,417 shares of the company’s stock worth $9,447,000 after buying an additional 16,575 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of AmTrust Financial Services by 2.9% in the fourth quarter. Rhumbline Advisers now owns 66,335 shares of the company’s stock worth $4,085,000 after buying an additional 1,900 shares during the period.
Amtrust Financial Services, Inc is an insurance holding company. Through its wholly owned subsidiaries, the Company 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.
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