AmTrust Financial Services Inc (AFSI) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.77 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.73. The company posted revenue of $1280.00 million in the period, compared to analysts expectations of $1119.38 million. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.
Many Wall Street Analysts have commented on AmTrust Financial Services Inc. Shares were Reiterated by Compass Point on Feb 11, 2016 to “Buy” and Lowered the Price Target to $ 33 from a previous price target of $35 .Shares were Reiterated by Compass Point on Feb 5, 2016 to “Buy” and Lowered the Price Target to $ 35 from a previous price target of $70 .
AmTrust Financial Services Inc opened for trading at $24.93 and hit $25.24 on the upside on Monday, eventually ending the session at $25.16, with a gain of 1.25% or 0.31 points. The heightened volatility saw the trading volume jump to 13,88,648 shares. Company has a market cap of $4,422 M.
In a different news, on Apr 18, 2016, Stephen Ungar (SVP, GC and Secretary) sold 3,000 shares at $25.10 per share price. According to the SEC, on Apr 4, 2016, Ronald E Jr Pipoly (EVP, Chief Financial Officer) sold 4,000 shares at $26.40 per share price. On Feb 26, 2016, David Saks (EVP, Chief Legal Officer) sold 10,000 shares at $24.51 per share price, according to the Form-4 filing with the securities and exchange commission.
Amtrust Financial Services Inc. is an insurance holding company. Through its wholly owned subsidiaries the Company 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. The Company operates through three segments. The Small Commercial Business segment provides workers’ compensation and commercial package and other property and casualty insurance products. The Specialty Risk and Extended Warranty segment provides coverage for consumer and commercial goods and custom designed coverages such as accidental damage plans and payment protection plans. The Specialty Program segment provides workers’ compensation package products general liability commercial auto liability excess and surplus lines programs and other specialty commercial property and casualty insurance.