Cornerstone Capital Management Holdings LLC. Sells 132,733 Shares of AmTrust Financial Services Inc (AFSI)
Cornerstone Capital Management Holdings LLC. reduced its stake in shares of AmTrust Financial Services Inc (NASDAQ:AFSI) by 84.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,100 shares of the insurance provider’s stock after selling 132,733 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in AmTrust Financial Services were worth $324,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AFSI. Schwab Charles Investment Management Inc. raised its holdings in AmTrust Financial Services by 25.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 805,811 shares of the insurance provider’s stock valued at $12,200,000 after buying an additional 164,917 shares in the last quarter. Rhumbline Advisers raised its holdings in AmTrust Financial Services by 10.1% during the second quarter. Rhumbline Advisers now owns 178,400 shares of the insurance provider’s stock valued at $2,701,000 after buying an additional 16,376 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in AmTrust Financial Services by 19.3% during the second quarter. Bank of New York Mellon Corp now owns 740,272 shares of the insurance provider’s stock valued at $11,207,000 after buying an additional 119,775 shares in the last quarter. BB&T Securities LLC bought a new position in AmTrust Financial Services during the second quarter valued at about $295,000. Finally, Federated Investors Inc. PA acquired a new stake in shares of AmTrust Financial Services in the second quarter valued at about $390,000. Institutional investors own 33.68% of the company’s stock.
Shares of AmTrust Financial Services Inc (AFSI) opened at $9.93 on Thursday. AmTrust Financial Services Inc has a 1 year low of $8.80 and a 1 year high of $27.93. The firm has a market capitalization of $1,950.00, a PE ratio of -31.03 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.53 and a current ratio of 0.53.
AmTrust Financial Services (NASDAQ:AFSI) last released its earnings results on Wednesday, November 8th. The insurance provider reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). AmTrust Financial Services had a return on equity of 9.07% and a net margin of 0.49%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. analysts anticipate that AmTrust Financial Services Inc will post 0.94 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend is Friday, December 29th. AmTrust Financial Services’s dividend payout ratio (DPR) is presently -212.50%.
AFSI has been the topic of several research analyst reports. ValuEngine downgraded AmTrust Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised AmTrust Financial Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 10th. FBR & Co downgraded AmTrust Financial Services from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research report on Tuesday, October 24th. B. Riley reaffirmed a “neutral” rating and issued a $12.00 price target on shares of AmTrust Financial Services in a research report on Monday, November 6th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $16.00 price target on shares of AmTrust Financial Services in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $15.33.
In other news, SVP Ariel Gorelik bought 2,962 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost 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 $55,765.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 50.80% of the stock is 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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