Legal & General Group Plc lifted its holdings in AmTrust Financial Services Inc (NASDAQ:AFSI) by 34.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 43,000 shares of the insurance provider’s stock after acquiring an additional 11,042 shares during the quarter. Legal & General Group Plc’s holdings in AmTrust Financial Services were worth $580,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in AFSI. Rhumbline Advisers raised 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 valued at $2,701,000 after buying an additional 16,376 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in AmTrust Financial Services by 166.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 98,909 shares of the insurance provider’s stock valued at $1,498,000 after buying an additional 61,784 shares during the last quarter. Royal Bank of Canada raised its holdings in AmTrust Financial Services by 20.3% during the 2nd quarter. Royal Bank of Canada now owns 4,012,368 shares of the insurance provider’s stock valued at $60,748,000 after buying an additional 676,537 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in AmTrust Financial Services during the 3rd quarter valued at $298,000. Finally, State Street Corp raised its holdings in AmTrust Financial Services by 54.1% during the 2nd quarter. State Street Corp now owns 3,292,917 shares of the insurance provider’s stock valued at $49,854,000 after buying an additional 1,156,431 shares during the last quarter. Hedge funds and other institutional investors own 33.68% of the company’s stock.
AFSI has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of AmTrust Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. SunTrust Banks reiterated a “buy” rating and set a $16.00 price target on shares of AmTrust Financial Services in a report on Friday, November 10th. JMP Securities lowered shares of AmTrust Financial Services from an “outperform” rating to a “market perform” rating in a report on Monday, November 13th. B. Riley reiterated a “neutral” rating and set a $12.00 price target on shares of AmTrust Financial Services in a report on Monday, November 6th. Finally, BidaskClub raised shares of AmTrust Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.33.
AmTrust Financial Services (NASDAQ:AFSI) last issued its quarterly earnings data on Wednesday, November 8th. The insurance provider reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.37). The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.29 billion. AmTrust Financial Services had a net margin of 0.49% and a return on equity of 9.07%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. equities research analysts predict that AmTrust Financial Services Inc will post 0.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders 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 6.49%. The ex-dividend date is Friday, December 29th. AmTrust Financial Services’s payout ratio is currently -424.97%.
In related news, SVP Ariel Gorelik acquired 2,962 shares of AmTrust Financial Services stock in a transaction 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 transaction, the senior vice president now owns 5,977 shares in the company, valued at $55,765.41. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 50.80% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding AFSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmTrust Financial Services Inc (NASDAQ:AFSI).
Receive News & Ratings for AmTrust Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmTrust Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.