Genesee Valley Trust Co. decreased its stake in 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.

Other hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in shares of 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 stake in shares of 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 stake in shares of 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. Bancorpsouth Inc. purchased a new stake in shares of AmTrust Financial Services during the first quarter valued at $226,000. Finally, IBM Retirement Fund boosted its stake in shares of 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. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

AmTrust Financial Services Inc. (NASDAQ:AFSI) traded down 0.60% during mid-day trading on Tuesday, hitting $26.52. 526,475 shares of the stock traded hands. AmTrust Financial Services Inc. has a one year low of $23.55 and a one year high of $35.63. The company has a 50 day moving average price of $26.09 and a 200-day moving average price of $25.53. The stock has a market capitalization of $4.53 billion, a PE ratio of 9.52 and a beta of 1.11.

AmTrust Financial Services (NASDAQ:AFSI) last announced its earnings results on Tuesday, August 2nd. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.71 by $0.07. The business earned $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. AmTrust Financial Services had a net margin of 10.18% and a return on equity of 21.66%. AmTrust Financial Services’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. Equities analysts anticipate that AmTrust Financial Services Inc. will post $3.06 earnings per share for the current fiscal year.

The firm 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 $0.17 dividend. This is a boost from AmTrust Financial Services’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, October 3rd. This represents a $0.68 annualized dividend and a yield of 2.56%. AmTrust Financial Services’s payout ratio is 21.47%.

Several research firms have recently commented on AFSI. 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. FBR & Co reissued a “buy” rating on shares of AmTrust Financial Services in a research note on Wednesday, June 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. AmTrust Financial Services has an average rating of “Buy” and an average price target of $40.80.

In other AmTrust Financial Services news, Director Donald T. Decarlo sold 2,200 shares of AmTrust Financial Services stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $26.53, for a total value of $58,366.00. Following the completion of the sale, the director now owns 130,678 shares in the company, valued at approximately $3,466,887.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael J. Saxon sold 9,000 shares of AmTrust Financial Services stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $24.43, for a total transaction of $219,870.00. Following the completion of the sale, the executive vice president now owns 596,434 shares of the company’s stock, valued at approximately $14,570,882.62. The disclosure for this sale can be found here. 42.80% of the stock is currently owned by company 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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