Zacks Investment Research upgraded shares of AmTrust Financial Services (NASDAQ:AFSI) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $15.00 price objective on the insurance provider’s stock.
According to Zacks, “Shares of AmTrust Financial have outperformed the industry year to date. AmTrust Financial’s leadership position in commercial small business, expansion of other segments and an impressive inorganic growth story poise it well for growth. The company also aims to build an investment portfolio that returns in line with the sector. The slow but improving rate environment also raises optimism. Plus, a strong balance sheet facilitates growth initiatives and effective capital deployment. Also, the company saw its 2018 estimate moving north by nearly 5.2% in the last 60 days. However, a high level of debt increases interest burden and escalates expenses, thereby hurting margin. Exposure to cat environment induced volatility in underwriting results. AmTrust Financial will report fourth quarter results on Feb 26. Our proven model states that the company will deliver positive surprise given its Zacks Rank #2 and Earnings ESP of 15.07%”
AFSI has been the topic of a number of other research reports. ValuEngine lowered shares of AmTrust Financial Services from a buy rating to a hold rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods reiterated a hold rating and set a $10.00 price objective on shares of AmTrust Financial Services in a research note on Wednesday, December 6th. FBR & Co lowered shares of AmTrust Financial Services from a buy rating to a neutral rating and set a $14.00 price objective on the stock. in a research note on Tuesday, October 24th. BidaskClub upgraded shares of AmTrust Financial Services from a sell rating to a hold rating in a research note on Wednesday, January 3rd. Finally, B. Riley reiterated a neutral rating and set a $12.00 price objective on shares of AmTrust Financial Services in a research note on Monday, November 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $15.29.
AmTrust Financial Services (NASDAQ:AFSI) opened at $13.05 on Tuesday. AmTrust Financial Services has a 12 month low of $8.80 and a 12 month high of $27.91. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.46. The company has a market cap of $2,560.00, a P/E ratio of -40.78 and a beta of 1.28.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be given a $0.17 dividend. The ex-dividend date is Thursday, March 29th. This represents a $0.68 annualized dividend and a yield of 5.21%. AmTrust Financial Services’s dividend payout ratio (DPR) is -212.50%.
A number of institutional investors have recently bought and sold shares of AFSI. State Street Corp grew its position in AmTrust Financial Services by 54.1% in the second quarter. State Street Corp now owns 3,292,917 shares of the insurance provider’s stock worth $49,854,000 after buying an additional 1,156,431 shares during the last quarter. Dimensional Fund Advisors LP grew its position in AmTrust Financial Services by 32.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,698,536 shares of the insurance provider’s stock worth $36,324,000 after buying an additional 660,088 shares during the last quarter. Northern Trust Corp grew its position in AmTrust Financial Services by 93.7% in the second quarter. Northern Trust Corp now owns 1,304,835 shares of the insurance provider’s stock worth $19,755,000 after buying an additional 631,314 shares during the last quarter. Guggenheim Capital LLC grew its position in AmTrust Financial Services by 277.8% in the fourth quarter. Guggenheim Capital LLC now owns 701,151 shares of the insurance provider’s stock worth $7,061,000 after buying an additional 515,547 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in AmTrust Financial Services by 50.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,110,664 shares of the insurance provider’s stock worth $11,185,000 after buying an additional 372,065 shares during the last quarter. Hedge funds and other institutional investors own 31.18% of the company’s stock.
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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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