AmTrust Financial Services, Inc. (NASDAQ:AFSI) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC boosted its position in AmTrust Financial Services, Inc. (NASDAQ:AFSI) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 870,774 shares of the insurance provider’s stock after buying an additional 31,929 shares during the period. Geode Capital Management LLC’s holdings in AmTrust Financial Services were worth $16,074,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in AmTrust Financial Services by 33.6% in the first quarter. Vanguard Group Inc. now owns 8,667,061 shares of the insurance provider’s stock worth $159,994,000 after buying an additional 2,181,846 shares during the period. Edge Asset Management Inc. raised its position in AmTrust Financial Services by 24.9% in the first quarter. Edge Asset Management Inc. now owns 5,082,376 shares of the insurance provider’s stock worth $93,819,000 after buying an additional 1,013,216 shares during the period. Norges Bank bought a new position in AmTrust Financial Services during the fourth quarter worth $25,606,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in AmTrust Financial Services during the first quarter worth $15,064,000. Finally, Principal Financial Group Inc. raised its position in AmTrust Financial Services by 50.1% in the first quarter. Principal Financial Group Inc. now owns 2,298,469 shares of the insurance provider’s stock worth $42,430,000 after buying an additional 767,278 shares during the period. 45.56% of the stock is currently owned by hedge funds and other institutional investors.
AmTrust Financial Services, Inc. (NASDAQ AFSI) opened at 15.59 on Thursday. The firm’s 50-day moving average price is $14.43 and its 200-day moving average price is $19.14. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 8.94 and a beta of 1.15. AmTrust Financial Services, Inc. has a 1-year low of $11.80 and a 1-year high of $28.48.
AmTrust Financial Services (NASDAQ:AFSI) last posted its quarterly earnings data on Monday, May 8th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.32. AmTrust Financial Services had a return on equity of 17.24% and a net margin of 7.55%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business earned $0.77 EPS. AmTrust Financial Services’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that AmTrust Financial Services, Inc. will post $1.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Thursday, June 29th. AmTrust Financial Services’s payout ratio is currently 32.69%.
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AFSI has been the topic of a number of recent research reports. FBR & Co reissued an “outperform” rating and set a $22.00 price objective (up previously from $16.00) on shares of AmTrust Financial Services in a research note on Friday, June 9th. JMP Securities initiated coverage on AmTrust Financial Services in a research note on Friday, July 7th. They set an “outperform” rating and a $18.00 price objective on the stock. Compass Point reissued a “buy” rating and set a $22.00 price objective (down previously from $26.00) on shares of AmTrust Financial Services in a research note on Tuesday, May 30th. TheStreet lowered AmTrust Financial Services from a “b-” rating to a “c” rating in a research note on Monday, May 1st. Finally, ValuEngine lowered AmTrust Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.50.
In related news, SVP Stephen Ungar sold 5,000 shares of AmTrust Financial Services stock in a transaction on Monday, May 15th. The stock was sold at an average price of $13.08, for a total value of $65,400.00. Following the transaction, the senior vice president now owns 169,518 shares in the company, valued at $2,217,295.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.80% of the stock is currently owned by company insiders.
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.
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