Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for AmTrust Financial Services, Inc. (AFSI)

Keefe, Bruyette & Woods reissued their market perform rating on shares of AmTrust Financial Services, Inc. (NASDAQ:AFSI) in a research note issued to investors on Friday, May 12th. The brokerage currently has a $16.00 price target on the insurance provider’s stock.

AFSI has been the subject of several other research reports. JMP Securities decreased their price objective on AmTrust Financial Services from $35.00 to $31.00 and set an outperform rating for the company in a report on Tuesday, February 28th. FBR & Co reiterated an outperform rating and issued a $33.00 target price on shares of AmTrust Financial Services in a research note on Tuesday, February 28th. Zacks Investment Research downgraded shares of AmTrust Financial Services from a hold rating to a strong sell rating in a research note on Tuesday, February 28th. Finally, TheStreet downgraded shares of AmTrust Financial Services from a b- rating to a c rating in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. AmTrust Financial Services presently has an average rating of Hold and an average price target of $22.75.

AmTrust Financial Services (AFSI) traded up 0.71% during mid-day trading on Friday, reaching $14.11. The company’s stock had a trading volume of 4,865,793 shares. The company has a market capitalization of $2.42 billion, a PE ratio of 8.10 and a beta of 1.17. AmTrust Financial Services has a 1-year low of $11.80 and a 1-year high of $28.48. The firm has a 50 day moving average price of $13.63 and a 200-day moving average price of $21.16.

AmTrust Financial Services (NASDAQ:AFSI) last announced its quarterly earnings data on Monday, May 8th. The insurance provider reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.32. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.35 billion. AmTrust Financial Services had a net margin of 7.55% and a return on equity of 16.55%. AmTrust Financial Services’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. On average, equities analysts predict that AmTrust Financial Services will post $1.89 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, July 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Thursday, June 29th. AmTrust Financial Services’s payout ratio is 32.69%.

In other AmTrust Financial Services news, SVP Stephen Ungar sold 5,000 shares of the business’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $15.61, for a total value of $78,050.00. Following the transaction, the senior vice president now directly owns 169,518 shares in the company, valued at $2,646,175.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael J. Saxon sold 9,000 shares of the business’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $22.08, for a total transaction of $198,720.00. Following the completion of the transaction, the executive vice president now owns 535,946 shares in the company, valued at $11,833,687.68. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock valued at $411,770 over the last ninety days. 42.80% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of AmTrust Financial Services by 33.6% in the first quarter. Vanguard Group Inc. now owns 8,667,061 shares of the insurance provider’s stock worth $159,994,000 after buying an additional 2,181,846 shares during the last quarter. Edge Asset Management Inc. boosted its stake in shares of AmTrust Financial Services by 24.9% in the first quarter. Edge Asset Management Inc. now owns 5,082,376 shares of the insurance provider’s stock worth $93,819,000 after buying an additional 1,013,216 shares during the last quarter. FMR LLC boosted its stake in AmTrust Financial Services by 9.0% in the fourth quarter. FMR LLC now owns 3,598,480 shares of the insurance provider’s stock valued at $98,527,000 after buying an additional 297,900 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in AmTrust Financial Services by 10.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,356,989 shares of the insurance provider’s stock valued at $63,238,000 after buying an additional 230,348 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in AmTrust Financial Services by 50.1% in the first quarter. Principal Financial Group Inc. now owns 2,298,469 shares of the insurance provider’s stock valued at $42,430,000 after buying an additional 767,278 shares in the last quarter. Institutional investors own 45.37% of the company’s stock.

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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