Brokerages expect AmTrust Financial Services, Inc. (NASDAQ:AFSI) to post $1.52 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for AmTrust Financial Services’ earnings, with estimates ranging from $1.50 billion to $1.55 billion. AmTrust Financial Services reported sales of $1.40 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The business is expected to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that AmTrust Financial Services will report full year sales of $1.52 billion for the current financial year, with estimates ranging from $6.06 billion to $6.08 billion. For the next financial year, analysts anticipate that the business will report sales of $6.52 billion per share, with estimates ranging from $6.23 billion to $6.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover AmTrust Financial Services.
AmTrust Financial Services (NASDAQ:AFSI) last announced its quarterly earnings data on Tuesday, August 8th. The insurance provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. AmTrust Financial Services had a net margin of 5.14% and a return on equity of 14.26%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis.
AFSI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $16.00 price objective on shares of AmTrust Financial Services in a report on Friday, May 12th. Compass Point reiterated a “buy” rating and issued a $22.00 price objective (down from $26.00) on shares of AmTrust Financial Services in a report on Tuesday, May 30th. JMP Securities initiated coverage on shares of AmTrust Financial Services in a report on Friday, July 7th. They issued an “outperform” rating and a $18.00 price objective on the stock. BidaskClub upgraded shares of AmTrust Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, ValuEngine downgraded shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $19.50.
In related news, SVP Stephen Ungar sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $13.92, for a total value of $69,600.00. Following the completion of the transaction, the senior vice president now directly owns 175,256 shares of the company’s stock, valued at $2,439,563.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 50.80% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in AmTrust Financial Services by 33.6% in the first quarter. Vanguard Group Inc. now owns 8,667,061 shares of the insurance provider’s stock worth $159,994,000 after buying an additional 2,181,846 shares during the period. Amalgamated Bank boosted its position in AmTrust Financial Services by 1.4% in the first quarter. Amalgamated Bank now owns 12,697 shares of the insurance provider’s stock worth $234,000 after buying an additional 172 shares during the period. Swiss National Bank boosted its position in AmTrust Financial Services by 1.6% in the first quarter. Swiss National Bank now owns 140,480 shares of the insurance provider’s stock worth $2,593,000 after buying an additional 2,200 shares during the period. Ameriprise Financial Inc. boosted its position in AmTrust Financial Services by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 1,413,037 shares of the insurance provider’s stock worth $26,084,000 after buying an additional 137,214 shares during the period. Finally, Strs Ohio bought a new position in AmTrust Financial Services during the first quarter worth approximately $13,918,000. 39.43% of the stock is owned by hedge funds and other institutional investors.
Shares of AmTrust Financial Services (NASDAQ:AFSI) traded down 1.82% on Monday, reaching $12.40. 2,759,132 shares of the company were exchanged. AmTrust Financial Services has a 12 month low of $11.80 and a 12 month high of $28.48. The stock has a 50 day moving average price of $14.94 and a 200-day moving average price of $16.98. The stock has a market capitalization of $2.43 billion, a P/E ratio of 12.05 and a beta of 1.16.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.68 annualized dividend and a dividend yield of 5.48%. AmTrust Financial Services’s dividend payout ratio is presently 51.13%.
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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