California Public Employees Retirement System reduced its position in AmTrust Financial Services Inc (NASDAQ:AFSI) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 309,340 shares of the insurance provider’s stock after selling 30,075 shares during the period. California Public Employees Retirement System owned approximately 0.16% of AmTrust Financial Services worth $4,507,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Management LLC bought a new position in shares of AmTrust Financial Services in the 2nd quarter worth $146,000. Mint Tower Capital Management B.V. bought a new position in shares of AmTrust Financial Services in the 2nd quarter worth $146,000. Nisa Investment Advisors LLC bought a new position in shares of AmTrust Financial Services in the 2nd quarter worth $161,000. Great West Life Assurance Co. Can lifted its holdings in shares of AmTrust Financial Services by 40.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 13,718 shares of the insurance provider’s stock worth $169,000 after purchasing an additional 3,954 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of AmTrust Financial Services by 35.9% in the 1st quarter. Russell Investments Group Ltd. now owns 15,074 shares of the insurance provider’s stock worth $186,000 after purchasing an additional 3,983 shares in the last quarter. Institutional investors own 37.05% of the company’s stock.
Shares of NASDAQ:AFSI opened at $14.39 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.54 and a current ratio of 0.54. AmTrust Financial Services Inc has a 1-year low of $8.80 and a 1-year high of $14.74.
AmTrust Financial Services (NASDAQ:AFSI) last issued its quarterly earnings data on Thursday, August 9th. The insurance provider reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.86). AmTrust Financial Services had a net margin of 2.56% and a negative return on equity of 14.82%. The company had revenue of $1.36 billion for the quarter. Analysts forecast that AmTrust Financial Services Inc will post 1.17 earnings per share for the current year.
A number of brokerages recently issued reports on AFSI. Keefe, Bruyette & Woods reiterated a “$14.58” rating and issued a $14.75 target price on shares of AmTrust Financial Services in a report on Wednesday, July 18th. BidaskClub upgraded AmTrust Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, B. Riley raised their price objective on AmTrust Financial Services from $12.00 to $14.75 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Eight analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus target price of $14.92.
AmTrust Financial Services Profile
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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