Kassirer Asset Management Corp raised its position in AmTrust Financial Services Inc (NASDAQ:AFSI) by 53.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,000 shares of the insurance provider’s stock after buying an additional 80,000 shares during the quarter. AmTrust Financial Services makes up approximately 2.2% of Kassirer Asset Management Corp’s portfolio, making the stock its 16th biggest position. Kassirer Asset Management Corp owned approximately 0.12% of AmTrust Financial Services worth $3,340,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AFSI. Alpine Associates Management Inc. purchased a new stake in AmTrust Financial Services in the second quarter valued at approximately $24,612,000. UBS Group AG lifted its stake in AmTrust Financial Services by 3,429.0% in the first quarter. UBS Group AG now owns 1,610,084 shares of the insurance provider’s stock valued at $19,821,000 after buying an additional 1,564,460 shares during the last quarter. BlackRock Inc. lifted its stake in AmTrust Financial Services by 26.6% in the second quarter. BlackRock Inc. now owns 7,181,311 shares of the insurance provider’s stock valued at $104,632,000 after buying an additional 1,508,748 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in AmTrust Financial Services in the second quarter valued at approximately $5,780,000. Finally, Kellner Capital LLC purchased a new stake in AmTrust Financial Services in the second quarter valued at approximately $3,916,000. Institutional investors own 37.05% of the company’s stock.
A number of research analysts have recently issued reports on the company. BidaskClub raised AmTrust Financial Services from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 25th. Keefe, Bruyette & Woods reissued a “$14.58” rating and issued a $14.75 target price on shares of AmTrust Financial Services in a report on Wednesday, July 18th. Finally, B. Riley boosted their target price on AmTrust Financial Services from $12.00 to $14.75 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Eight investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $14.92.
AmTrust Financial Services (NASDAQ:AFSI) last released its earnings results on Thursday, August 9th. The insurance provider reported ($0.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.86). The company had revenue of $1.36 billion during the quarter. AmTrust Financial Services had a net margin of 2.56% and a negative return on equity of 14.82%. On average, analysts forecast that AmTrust Financial Services Inc will post 1.17 earnings per share for the current year.
About AmTrust Financial Services
AmTrust Financial Services, Inc provides property and casualty insurance in the United States and internationally. The company operates in three segments: Small Commercial Business, Specialty Risk and Extended Warranty, and Specialty Program. The Small Commercial Business segment offers workers' compensation insurance products; and commercial package, and other property and casualty insurance products, such as commercial property, general liability, inland marine, employment practices liability, commercial automobile, and umbrella coverage to small businesses.
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