StockNews.com Begins Coverage on Atlantic American (NASDAQ:AAME)

StockNews.com assumed coverage on shares of Atlantic American (NASDAQ:AAME) in a research report released on Tuesday morning. The firm issued a hold rating on the financial services provider’s stock.

Atlantic American Trading Down 0.5 %

NASDAQ AAME opened at $1.95 on Tuesday. The stock’s 50-day moving average price is $2.54 and its two-hundred day moving average price is $2.25. The company has a market cap of $39.78 million, a PE ratio of -64.98 and a beta of 0.32. Atlantic American has a 1 year low of $1.49 and a 1 year high of $3.00.

Atlantic American Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, April 11th. This represents a yield of 0.78%. Atlantic American’s payout ratio is presently -66.64%.

Hedge Funds Weigh In On Atlantic American

Large investors have recently made changes to their positions in the business. Independent Advisor Alliance acquired a new position in shares of Atlantic American in the 4th quarter valued at about $32,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Atlantic American in the 4th quarter valued at about $43,000. Finally, BlackRock Inc. increased its holdings in shares of Atlantic American by 62.1% in the 2nd quarter. BlackRock Inc. now owns 44,945 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 17,212 shares during the period. Institutional investors and hedge funds own 5.48% of the company’s stock.

About Atlantic American

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. It operates through American Southern and Bankers Fidelity segments. The company offers property and casualty insurance products, including commercial automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; general liability; and inland marine insurance products.