AmTrust Financial Services Inc. (AFSI) Given Consensus Recommendation of “Buy” by Analysts
AmTrust Financial Services Inc. (NASDAQ:AFSI) has received a consensus rating of “Buy” from the six ratings firms that are presently covering the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $34.00.
Separately, Zacks Investment Research raised AmTrust Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th.
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In other AmTrust Financial Services news, SVP Stephen Ungar sold 5,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $26.50, for a total transaction of $132,500.00. Following the completion of the sale, the senior vice president now directly owns 169,518 shares in the company, valued at approximately $4,492,227. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael J. Saxon sold 9,000 shares of the business’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $26.60, for a total transaction of $239,400.00. Following the sale, the executive vice president now owns 569,434 shares of the company’s stock, valued at $15,146,944.40. The disclosure for this sale can be found here. Company insiders own 42.80% of the company’s stock.
A number of large investors have recently made changes to their positions in AFSI. Royal Bank of Canada raised its stake in shares of AmTrust Financial Services by 12.0% in the second quarter. Royal Bank of Canada now owns 3,579,743 shares of the company’s stock worth $87,704,000 after buying an additional 383,421 shares in the last quarter. Edge Asset Management Inc. raised its stake in shares of AmTrust Financial Services by 34.7% in the second quarter. Edge Asset Management Inc. now owns 2,950,203 shares of the company’s stock worth $72,280,000 after buying an additional 760,658 shares in the last quarter. FMR LLC raised its stake in shares of AmTrust Financial Services by 6.6% in the second quarter. FMR LLC now owns 2,451,480 shares of the company’s stock worth $60,061,000 after buying an additional 151,609 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of AmTrust Financial Services by 10.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,356,989 shares of the company’s stock worth $63,238,000 after buying an additional 230,348 shares in the last quarter. Finally, State Street Corp raised its stake in shares of AmTrust Financial Services by 3.6% in the second quarter. State Street Corp now owns 1,483,966 shares of the company’s stock worth $36,358,000 after buying an additional 51,462 shares in the last quarter. Institutional investors and hedge funds own 44.37% of the company’s stock.
Shares of AmTrust Financial Services (NASDAQ:AFSI) opened at 26.12 on Monday. AmTrust Financial Services has a 1-year low of $23.55 and a 1-year high of $32.22. The company’s 50-day moving average price is $26.29 and its 200 day moving average price is $25.86. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 11.30 and a beta of 1.08.
AmTrust Financial Services (NASDAQ:AFSI) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.22 billion. AmTrust Financial Services had a return on equity of 19.81% and a net margin of 8.39%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.79 EPS. On average, analysts predict that AmTrust Financial Services will post $3.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, December 29th. This represents a $0.68 dividend on an annualized basis and a yield of 2.60%. AmTrust Financial Services’s dividend payout ratio is presently 29.44%.
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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