Principal Financial Group Inc. raised its stake in AmTrust Financial Services Inc. (NASDAQ:AFSI) by 21.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,053,281 shares of the company’s stock after buying an additional 185,128 shares during the period. Principal Financial Group Inc. owned approximately 0.61% of AmTrust Financial Services worth $25,806,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its position in AmTrust Financial Services by 104.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,300 shares of the company’s stock valued at $111,000 after buying an additional 2,200 shares during the last quarter. Huntington National Bank raised its stake in AmTrust Financial Services by 49.0% in the second quarter. Huntington National Bank now owns 4,758 shares of the company’s stock valued at $117,000 after buying an additional 1,564 shares during the period. Schroder Investment Management Group purchased a new stake in AmTrust Financial Services during the second quarter valued at $132,000. Legal & General Group Plc raised its stake in AmTrust Financial Services by 107.8% in the first quarter. Legal & General Group Plc now owns 5,545 shares of the company’s stock valued at $143,000 after buying an additional 2,876 shares during the period. Finally, Invictus RG raised its stake in AmTrust Financial Services by 360.2% in the first quarter. Invictus RG now owns 6,521 shares of the company’s stock valued at $169,000 after buying an additional 5,104 shares during the period. Hedge funds and other institutional investors own 42.75% of the company’s stock.
AmTrust Financial Services Inc. (NASDAQ:AFSI) traded down 0.34% during mid-day trading on Wednesday, hitting $26.05. The company had a trading volume of 137,255 shares. The company’s 50 day moving average price is $26.27 and its 200-day moving average price is $25.57. AmTrust Financial Services Inc. has a one year low of $23.55 and a one year high of $35.63. The company has a market cap of $4.45 billion, a PE ratio of 9.35 and a beta of 1.11.
AmTrust Financial Services (NASDAQ:AFSI) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. AmTrust Financial Services had a return on equity of 21.66% and a net margin of 10.18%. The business earned $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. Equities research analysts anticipate that AmTrust Financial Services Inc. will post $3.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, October 5th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.60%. This is a positive change from AmTrust Financial Services’s previous quarterly dividend of $0.15. AmTrust Financial Services’s payout ratio is currently 21.47%.
Several analysts have weighed in on the company. Zacks Investment Research raised AmTrust Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. FBR & Co reissued a “buy” rating on shares of AmTrust Financial Services in a report on Wednesday, June 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.80.
In other AmTrust Financial Services news, SVP Stephen Ungar sold 5,000 shares of the business’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $24.95, for a total transaction of $124,750.00. Following the completion of the transaction, the senior vice president now owns 169,518 shares in the company, valued at approximately $4,229,474.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael J. Saxon sold 9,000 shares of the business’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $26.60, for a total value of $239,400.00. Following the transaction, the executive vice president now owns 569,434 shares of the company’s stock, valued at approximately $15,146,944.40. The disclosure for this sale can be found here. Corporate insiders own 42.80% 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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