AmTrust Financial Services Inc (NASDAQ:AFSI) Stake Raised by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC boosted its stake in AmTrust Financial Services Inc (NASDAQ:AFSI) by 64.7% during the second quarter, Holdings Channel reports. The institutional investor owned 25,458 shares of the insurance provider’s stock after buying an additional 10,000 shares during the period. Nisa Investment Advisors LLC’s holdings in AmTrust Financial Services were worth $371,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AFSI. Quantbot Technologies LP purchased a new position in AmTrust Financial Services during the first quarter valued at $121,000. SG Americas Securities LLC raised its position in AmTrust Financial Services by 57.7% in the first quarter. SG Americas Securities LLC now owns 8,673 shares of the insurance provider’s stock valued at $160,000 after buying an additional 3,173 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in AmTrust Financial Services during the first quarter valued at $170,000. Mckinley Capital Management LLC Delaware purchased a new position in AmTrust Financial Services during the first quarter valued at $211,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in AmTrust Financial Services during the first quarter valued at $234,000. Institutional investors own 44.65% of the company’s stock.
Shares of AmTrust Financial Services Inc (NASDAQ:AFSI) traded up 1.88% on Friday, reaching $14.08. 1,201,106 shares of the company were exchanged. AmTrust Financial Services Inc has a 12-month low of $11.80 and a 12-month high of $28.48. The firm has a market capitalization of $2.76 billion, a PE ratio of 13.68 and a beta of 1.16. The company’s 50 day moving average is $15.32 and its 200 day moving average is $17.92.
AmTrust Financial Services (NASDAQ:AFSI) last released its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. AmTrust Financial Services had a negative net margin of 2.49% and a positive return on equity of 0.91%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned $0.77 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Analysts forecast that AmTrust Financial Services Inc will post $1.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Friday, September 29th. AmTrust Financial Services’s payout ratio is currently 51.13%.
Several research firms have recently weighed in on AFSI. BidaskClub lowered shares of AmTrust Financial Services from a “hold” rating to a “sell” rating in a research note on Friday. FBR & Co restated an “outperform” rating and set a $22.00 price objective (up from $16.00) on shares of AmTrust Financial Services in a research note on Friday, June 9th. TheStreet lowered shares of AmTrust Financial Services from a “c” rating to a “d” rating in a research note on Wednesday, July 19th. ValuEngine lowered shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, JMP Securities began coverage on shares of AmTrust Financial Services in a research note on Friday, July 7th. They set an “outperform” rating and a $18.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.50.
In other AmTrust Financial Services news, SVP Stephen Ungar sold 5,000 shares of AmTrust Financial Services stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $13.92, for a total value of $69,600.00. Following the sale, the senior vice president now owns 175,256 shares of the company’s stock, valued at $2,439,563.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 50.80% of the stock is owned by company insiders.
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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