AmTrust Financial Services Inc. (NASDAQ:AFSI) EVP Michael J. Saxon sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the sale, the executive vice president now owns 551,434 shares of the company’s stock, valued at approximately $14,370,370.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of AmTrust Financial Services Inc. (NASDAQ:AFSI) opened at 25.94 on Friday. The company’s 50-day moving average is $26.30 and its 200-day moving average is $25.85. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 11.22 and a beta of 1.08. AmTrust Financial Services Inc. has a one year low of $23.55 and a one year high of $32.22.
AmTrust Financial Services (NASDAQ:AFSI) last released its earnings results on Thursday, November 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. AmTrust Financial Services had a net margin of 8.39% and a return on equity of 19.81%. The business earned $1.41 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned $1.79 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts predict that AmTrust Financial Services Inc. will post $3.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Thursday, December 29th. AmTrust Financial Services’s payout ratio is 29.44%.
Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in AmTrust Financial Services by 12.0% in the second quarter. Royal Bank of Canada now owns 3,579,743 shares of the company’s stock worth $87,704,000 after buying an additional 383,421 shares during the last quarter. Edge Asset Management Inc. raised its stake in AmTrust Financial Services by 34.7% in the second quarter. Edge Asset Management Inc. now owns 2,950,203 shares of the company’s stock worth $72,280,000 after buying an additional 760,658 shares during the last quarter. FMR LLC raised its stake in AmTrust Financial Services by 6.6% in the second quarter. FMR LLC now owns 2,451,480 shares of the company’s stock worth $60,061,000 after buying an additional 151,609 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised 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 company’s stock worth $63,238,000 after buying an additional 230,348 shares during the last quarter. Finally, State Street Corp raised its stake in AmTrust Financial Services by 3.6% in the second quarter. State Street Corp now owns 1,483,966 shares of the company’s stock worth $36,358,000 after buying an additional 51,462 shares during the last quarter. 44.37% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded shares of AmTrust Financial Services from a “sell” rating to a “hold” rating in a report on Monday, November 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.50.
About AmTrust Financial Services