AmTrust Financial Services, Inc. (NASDAQ:AFSI) Issues Quarterly Earnings Results
AmTrust Financial Services, Inc. (NASDAQ:AFSI) released its quarterly earnings data on Tuesday. The insurance provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04, Bloomberg Earnings reports. AmTrust Financial Services had a net margin of 7.55% and a return on equity of 17.24%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Thursday, June 29th. AmTrust Financial Services’s dividend payout ratio is currently 32.69%.
AFSI has been the topic of several analyst reports. TheStreet lowered shares of AmTrust Financial Services from a “c” rating to a “d” rating in a research note on Wednesday, July 19th. FBR & Co restated an “outperform” rating and set a $22.00 price target (up previously from $16.00) on shares of AmTrust Financial Services in a research note on Friday, June 9th. JMP Securities initiated coverage on shares of AmTrust Financial Services in a research note on Friday, July 7th. They set an “outperform” rating and a $18.00 price target on the stock. Compass Point restated a “buy” rating and set a $22.00 price target (down previously from $26.00) on shares of AmTrust Financial Services in a research note on Tuesday, May 30th. Finally, ValuEngine lowered shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $19.50.
In related news, SVP Stephen Ungar sold 5,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $13.08, for a total transaction of $65,400.00. Following the transaction, the senior vice president now directly owns 169,518 shares in the company, valued at $2,217,295.44. The sale was disclosed in a filing with the SEC, which is available through this link. 50.80% of the stock is currently owned by insiders.
About AmTrust Financial Services
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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