Genesee Valley Trust Co. Lowers Position in AmTrust Financial Services Inc. (AFSI)
Genesee Valley Trust Co. reduced its stake in shares of AmTrust Financial Services Inc. (NASDAQ:AFSI) by 16.6% during the second quarter, Holdings Channel reports. The institutional investor owned 29,008 shares of the company’s stock after selling 5,784 shares during the period. Genesee Valley Trust Co.’s holdings in AmTrust Financial Services were worth $711,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of AFSI. Canada Pension Plan Investment Board boosted its position in AmTrust Financial Services by 104.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,300 shares of the company’s stock valued at $111,000 after buying an additional 2,200 shares in the last quarter. Legal & General Group Plc boosted its position in AmTrust Financial Services by 107.8% in the first quarter. Legal & General Group Plc now owns 5,545 shares of the company’s stock valued at $143,000 after buying an additional 2,876 shares in the last quarter. Invictus RG boosted its position in AmTrust Financial Services by 360.2% in the first quarter. Invictus RG now owns 6,521 shares of the company’s stock valued at $169,000 after buying an additional 5,104 shares in the last quarter. IBM Retirement Fund boosted its position in AmTrust Financial Services by 7.4% in the second quarter. IBM Retirement Fund now owns 8,914 shares of the company’s stock valued at $218,000 after buying an additional 611 shares in the last quarter. Finally, Bancorpsouth Inc. bought a new position in AmTrust Financial Services during the first quarter valued at about $226,000. 42.75% of the stock is currently owned by institutional investors.
AmTrust Financial Services Inc. (NASDAQ:AFSI) traded down 0.60% on Tuesday, hitting $26.52. The company’s stock had a trading volume of 526,475 shares. The company has a 50 day moving average price of $26.09 and a 200-day moving average price of $25.53. The company has a market capitalization of $4.53 billion, a P/E ratio of 9.52 and a beta of 1.11. AmTrust Financial Services Inc. has a 1-year low of $23.55 and a 1-year high of $35.63.
AmTrust Financial Services (NASDAQ:AFSI) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. AmTrust Financial Services had a net margin of 10.18% and a return on equity of 21.66%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, equities analysts forecast that AmTrust Financial Services Inc. will post $3.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.56%. This is a boost from AmTrust Financial Services’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, October 3rd. AmTrust Financial Services’s dividend payout ratio is currently 21.47%.
Several research analysts have issued reports on the company. FBR & Co reaffirmed a “buy” rating on shares of AmTrust Financial Services in a report on Wednesday, June 29th. Zacks Investment Research cut AmTrust Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $40.80.
In other AmTrust Financial Services news, EVP Michael J. Saxon sold 9,000 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $24.43, for a total transaction of $219,870.00. Following the sale, the executive vice president now directly owns 596,434 shares of the company’s stock, valued at $14,570,882.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Donald T. Decarlo sold 2,200 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $26.53, for a total transaction of $58,366.00. Following the sale, the director now directly owns 130,678 shares in the company, valued at $3,466,887.34. The disclosure for this sale can be found here. Company 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.
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