Zyskind Barry D
revealed that they own a 22.8% stake in AmTrust Financial Services Inc (NASDAQ:AFSI) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Thursday, December 7th. The investor owns 83,811,446 shares of the stock worth approximately $839,790,689. The reporting parties listed on the disclosure included Barry D Zyskind, George Karfunkel and Leah Karfunkel. The filing is available through Edgar at this link.
Several other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of 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 worth $60,748,000 after buying an additional 676,537 shares in the last quarter. State Street Corp raised its holdings in shares of AmTrust Financial Services by 54.1% in the 2nd quarter. State Street Corp now owns 3,292,917 shares of the insurance provider’s stock worth $49,854,000 after purchasing an additional 1,156,431 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of AmTrust Financial Services by 32.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,698,536 shares of the insurance provider’s stock worth $36,324,000 after purchasing an additional 660,088 shares during the period. Denver Investment Advisors LLC raised its holdings in shares of AmTrust Financial Services by 47.7% in the 2nd quarter. Denver Investment Advisors LLC now owns 2,262,970 shares of the insurance provider’s stock worth $34,261,000 after purchasing an additional 731,249 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of AmTrust Financial Services by 93.7% in the 2nd quarter. Northern Trust Corp now owns 1,304,835 shares of the insurance provider’s stock worth $19,755,000 after purchasing an additional 631,314 shares during the period. 33.65% of the stock is currently owned by hedge funds and other institutional investors.
In other AmTrust Financial Services news, SVP Ariel Gorelik acquired 2,962 shares of AmTrust Financial Services stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average cost of $9.33 per share, for a total transaction of $27,635.46. Following the purchase, the senior vice president now owns 5,977 shares of the company’s stock, valued at $55,765.41. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 50.80% of the stock is currently owned by insiders.
AFSI has been the topic of a number of research reports. FBR & Co cut shares of AmTrust Financial Services from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a report on Tuesday, October 24th. Zacks Investment Research cut shares of AmTrust Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. SunTrust Banks reaffirmed a “buy” rating and issued a $16.00 price target on shares of AmTrust Financial Services in a report on Friday, November 10th. ValuEngine cut shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, JMP Securities cut shares of AmTrust Financial Services from an “outperform” rating to a “market perform” rating in a report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $15.33.
AmTrust Financial Services Inc (NASDAQ:AFSI) traded down $0.03 during trading on Thursday, reaching $10.02. 2,012,800 shares of the company were exchanged, compared to its average volume of 2,008,185. AmTrust Financial Services Inc has a fifty-two week low of $8.80 and a fifty-two week high of $28.48. The stock has a market cap of $1,970.07, a price-to-earnings ratio of 9.48 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.53.
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). AmTrust Financial Services had a net margin of 0.49% and a return on equity of 9.07%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. equities research analysts anticipate that AmTrust Financial Services Inc will post 0.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.17 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.68 dividend on an annualized basis and a yield of 6.79%. AmTrust Financial Services’s dividend payout ratio is -424.97%.
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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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