Wells Fargo & Company MN cut its stake in AmTrust Financial Services Inc. (NASDAQ:AFSI) by 14.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 456,638 shares of the company’s stock after selling 80,166 shares during the period. Wells Fargo & Company MN owned about 0.27% of AmTrust Financial Services worth $12,251,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cue Financial Group Inc. boosted its stake in AmTrust Financial Services by 0.3% in the third quarter. Cue Financial Group Inc. now owns 34,505 shares of the company’s stock valued at $926,000 after buying an additional 90 shares during the last quarter. Reliance Trust Co. of Delaware boosted its stake in AmTrust Financial Services by 1.1% in the second quarter. Reliance Trust Co. of Delaware now owns 13,306 shares of the company’s stock valued at $326,000 after buying an additional 151 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in AmTrust Financial Services by 1.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 18,245 shares of the company’s stock valued at $447,000 after buying an additional 244 shares during the last quarter. Legal & General Group Plc boosted its stake in AmTrust Financial Services by 4.4% in the second quarter. Legal & General Group Plc now owns 5,790 shares of the company’s stock valued at $142,000 after buying an additional 245 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in AmTrust Financial Services by 3.9% in the second quarter. Cubist Systematic Strategies LLC now owns 10,203 shares of the company’s stock valued at $250,000 after buying an additional 380 shares during the last quarter. 41.91% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for AmTrust Financial Services (NASDAQ:AFSI)

Shares of AmTrust Financial Services Inc. (NASDAQ:AFSI) traded down 0.50% during mid-day trading on Tuesday, hitting $25.69. 322,406 shares of the stock traded hands. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 11.11 and a beta of 1.08. The stock has a 50-day moving average of $26.27 and a 200-day moving average of $25.85. AmTrust Financial Services Inc. has a 52 week low of $23.55 and a 52 week high of $32.22.

AmTrust Financial Services (NASDAQ:AFSI) last released its earnings results on Thursday, November 3rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. AmTrust Financial Services had a net margin of 8.39% and a return on equity of 19.81%. The business earned $1.41 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned $1.79 earnings per share. The business’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts anticipate that AmTrust Financial Services Inc. will post $3.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Tuesday, January 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, December 29th. AmTrust Financial Services’s dividend payout ratio is presently 29.44%.

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Separately, Zacks Investment Research raised shares of AmTrust Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $41.50.

In related news, SVP Stephen Ungar sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $25.74, for a total transaction of $128,700.00. Following the completion of the sale, the senior vice president now directly owns 169,518 shares of the company’s stock, valued at $4,363,393.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael J. Saxon sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the sale, the executive vice president now directly owns 551,434 shares of the company’s stock, valued at $14,370,370.04. The disclosure for this sale can be found here. Corporate insiders own 42.80% of the company’s stock.

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.

5 Day Chart for NASDAQ:AFSI

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