Stoneridge Investment Partners LLC raised its stake in shares of AmTrust Financial Services, Inc. (NASDAQ:AFSI) by 85.6% during the second quarter, Holdings Channel reports. The fund owned 35,715 shares of the insurance provider’s stock after buying an additional 16,474 shares during the period. Stoneridge Investment Partners LLC’s holdings in AmTrust Financial Services were worth $541,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised 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 valued at $159,994,000 after buying an additional 2,181,846 shares during the last quarter. Amalgamated Bank raised its position in AmTrust Financial Services by 1.4% in the first quarter. Amalgamated Bank now owns 12,697 shares of the insurance provider’s stock valued at $234,000 after buying an additional 172 shares in the last quarter. Swiss National Bank raised its position in AmTrust Financial Services by 1.6% in the first quarter. Swiss National Bank now owns 140,480 shares of the insurance provider’s stock valued at $2,593,000 after buying an additional 2,200 shares in the last quarter. Ameriprise Financial Inc. raised its position in AmTrust Financial Services by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 1,413,037 shares of the insurance provider’s stock valued at $26,084,000 after buying an additional 137,214 shares in the last quarter. Finally, Strs Ohio purchased a new position in AmTrust Financial Services during the first quarter valued at $13,918,000. Hedge funds and other institutional investors own 44.65% of the company’s stock.
AmTrust Financial Services, Inc. (NASDAQ:AFSI) opened at 13.82 on Friday. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 13.43 and a beta of 1.16. AmTrust Financial Services, Inc. has a 1-year low of $11.80 and a 1-year high of $28.48. The stock’s 50 day moving average is $15.32 and its 200 day moving average is $18.01.
AmTrust Financial Services (NASDAQ:AFSI) last announced its earnings results on Tuesday, August 8th. The insurance provider reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. AmTrust Financial Services had a net margin of 5.14% and a return on equity of 14.82%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. Analysts predict that AmTrust Financial Services, Inc. will post $1.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a $0.17 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.68 annualized dividend and a dividend yield of 4.92%. AmTrust Financial Services’s dividend payout ratio is currently 51.13%.
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Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $16.00 price objective on shares of AmTrust Financial Services in a research note on Tuesday, May 2nd. TheStreet lowered shares of AmTrust Financial Services from a “c” rating to a “d” rating in a research note on Wednesday, July 19th. BidaskClub upgraded shares of AmTrust Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. JMP Securities assumed 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. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $19.50.
In other news, SVP Stephen Ungar sold 5,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $13.08, for a total value of $65,400.00. Following the completion of the sale, the senior vice president now owns 169,518 shares in the company, valued at $2,217,295.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 50.80% 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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