AmTrust Financial Services Inc (NASDAQ:AFSI) – Analysts at B. Riley decreased their FY2017 EPS estimates for AmTrust Financial Services in a research note issued to investors on Thursday. B. Riley analyst R. Binner now expects that the insurance provider will post earnings of $0.89 per share for the year, down from their previous forecast of $0.97. B. Riley has a “Neutral” rating and a $12.00 price objective on the stock. B. Riley also issued estimates for AmTrust Financial Services’ Q4 2017 earnings at $0.20 EPS.
A number of other equities analysts have also commented on AFSI. ValuEngine lowered AmTrust Financial Services from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. BidaskClub raised AmTrust Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday. JMP Securities lowered AmTrust Financial Services from an “outperform” rating to a “market perform” rating in a research note on Monday, November 13th. Zacks Investment Research raised AmTrust Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $10.00 price target on shares of AmTrust Financial Services in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.33.
AmTrust Financial Services (NASDAQ:AFSI) last released its quarterly earnings data 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). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.29 billion. AmTrust Financial Services had a return on equity of 9.07% and a net margin of 0.49%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $0.47 EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AFSI. Schwab Charles Investment Management Inc. increased its holdings in AmTrust Financial Services by 25.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 805,811 shares of the insurance provider’s stock worth $12,200,000 after purchasing an additional 164,917 shares during the period. Rhumbline Advisers increased its holdings in AmTrust Financial Services by 10.1% during the 2nd quarter. Rhumbline Advisers now owns 178,400 shares of the insurance provider’s stock worth $2,701,000 after purchasing an additional 16,376 shares during the period. Bank of New York Mellon Corp increased its holdings in AmTrust Financial Services by 19.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 740,272 shares of the insurance provider’s stock worth $11,207,000 after purchasing an additional 119,775 shares during the period. Federated Investors Inc. PA bought a new stake in AmTrust Financial Services during the 2nd quarter valued at $390,000. Finally, Pacer Advisors Inc. boosted its position in AmTrust Financial Services by 3.4% during the 2nd quarter. Pacer Advisors Inc. now owns 14,972 shares of the insurance provider’s stock valued at $227,000 after acquiring an additional 495 shares in the last quarter. Institutional investors own 33.68% of the company’s stock.
In other AmTrust Financial Services news, SVP Ariel Gorelik purchased 2,962 shares of AmTrust Financial Services stock in a transaction dated Wednesday, November 15th. The shares were purchased at an average cost of $9.33 per share, for a total transaction of $27,635.46. Following the completion of the acquisition, the senior vice president now owns 5,977 shares in the company, valued at approximately $55,765.41. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 50.80% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a $0.17 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.68 annualized dividend and a dividend yield of 6.49%. AmTrust Financial Services’s payout ratio is -212.50%.
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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