AmTrust Financial Services (AFSI) Sees Unusually-High Trading Volume
AmTrust Financial Services Inc (NASDAQ:AFSI) shares saw unusually-strong trading volume on Friday . Approximately 6,892,412 shares changed hands during mid-day trading, an increase of 242% from the previous session’s volume of 2,017,168 shares.The stock last traded at $10.20 and had previously closed at $10.00.
A number of equities analysts recently issued reports on AFSI shares. ValuEngine cut AmTrust Financial Services from a “buy” rating to a “hold” rating in a report on Friday, September 1st. JMP Securities cut AmTrust Financial Services from an “outperform” rating to a “market perform” rating in a report on Monday, November 13th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $10.00 target price on shares of AmTrust Financial Services in a report on Wednesday, December 6th. B. Riley restated a “neutral” rating and issued a $12.00 target price on shares of AmTrust Financial Services in a report on Monday, November 6th. Finally, Zacks Investment Research cut AmTrust Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.33.
The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $1,960.00, a price-to-earnings ratio of 9.46 and a beta of 1.11.
AmTrust Financial Services (NASDAQ:AFSI) last issued its earnings results on Wednesday, November 8th. The insurance provider reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.37). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.29 billion. AmTrust Financial Services had a return on equity of 9.07% and a net margin of 0.49%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS. equities analysts forecast that AmTrust Financial Services Inc will post 0.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a $0.17 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.68 annualized dividend and a dividend yield of 6.67%. AmTrust Financial Services’s dividend payout ratio (DPR) is presently -212.50%.
In other AmTrust Financial Services news, SVP Ariel Gorelik bought 2,962 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $9.33 per share, with a total value of $27,635.46. Following the completion of the transaction, the senior vice president now directly owns 5,977 shares in the company, valued at approximately $55,765.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 50.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Empire Life Investments Inc. boosted its position in shares of AmTrust Financial Services by 56.5% in the third quarter. Empire Life Investments Inc. now owns 25,506 shares of the insurance provider’s stock worth $343,000 after buying an additional 9,209 shares during the period. Elk Creek Partners LLC boosted its position in shares of AmTrust Financial Services by 13.7% in the third quarter. Elk Creek Partners LLC now owns 221,263 shares of the insurance provider’s stock worth $2,978,000 after buying an additional 26,580 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of AmTrust Financial Services in the third quarter worth $135,000. Dimensional Fund Advisors LP boosted its position in shares of AmTrust Financial Services by 32.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,698,536 shares of the insurance provider’s stock worth $36,324,000 after buying an additional 660,088 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of AmTrust Financial Services by 3.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 829,629 shares of the insurance provider’s stock worth $11,167,000 after buying an additional 23,818 shares during the period. 33.68% of the stock is owned by institutional investors and hedge funds.
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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