AmTrust Financial Services Inc (AFSI) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System cut its position in shares of AmTrust Financial Services Inc (NASDAQ:AFSI) by 9.6% during the 3rd quarter, Holdings Channel reports. The firm owned 136,616 shares of the insurance provider’s stock after selling 14,492 shares during the period. California State Teachers Retirement System’s holdings in AmTrust Financial Services were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI bought a new position in AmTrust Financial Services during the third quarter worth $135,000. Sapphire Star Partners LP bought a new position in AmTrust Financial Services during the third quarter worth $153,000. Paragon Capital Management Ltd bought a new stake in AmTrust Financial Services in the third quarter valued at $165,000. Symons Capital Management Inc. bought a new stake in AmTrust Financial Services in the third quarter valued at $172,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in AmTrust Financial Services by 4.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,181 shares of the insurance provider’s stock valued at $200,000 after buying an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 33.68% of the company’s stock.
AFSI has been the topic of a number of recent research reports. Zacks Investment Research cut AmTrust Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. SunTrust Banks reiterated a “buy” rating and issued a $16.00 target price on shares of AmTrust Financial Services in a research note on Friday, November 10th. JMP Securities cut AmTrust Financial Services from an “outperform” rating to a “market perform” rating in a research note on Monday, November 13th. B. Riley reiterated a “neutral” rating and issued a $12.00 target price on shares of AmTrust Financial Services in a research note on Monday, November 6th. Finally, BidaskClub cut AmTrust Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.71.
AmTrust Financial Services (NASDAQ:AFSI) last issued its quarterly earnings results on Wednesday, November 8th. The insurance provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.29 billion. AmTrust Financial Services had a net margin of 0.49% and a return on equity of 9.07%. AmTrust Financial Services’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.47 earnings per share. equities research analysts anticipate that AmTrust Financial Services Inc will post 0.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date was Friday, December 29th. AmTrust Financial Services’s dividend payout ratio (DPR) is -212.50%.
In other AmTrust Financial Services news, SVP Ariel Gorelik purchased 2,962 shares of the stock in a transaction dated Wednesday, November 15th. The shares were bought at an average cost of $9.33 per share, with a total value of $27,635.46. Following the completion of the acquisition, the senior vice president now owns 5,977 shares of the company’s stock, valued at $55,765.41. The purchase was disclosed in a filing with the SEC, which is available through this link. 50.80% of the stock is currently owned by company insiders.
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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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