AmTrust Financial Services Inc (AFSI) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.81 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $0.71. The company posted revenue of $1268.44 million in the period, compared to analysts expectations of $1203.06 million. The company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
AmTrust Financial Services Inc closed down -0.21 points or -0.87% at $23.87 with 11,28,963 shares getting traded on Friday. Post opening the session at $24.05, the shares hit an intraday low of $23.73 and an intraday high of $24.09 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jul 20, 2016, Michael J Saxon (EVP – U.S. Commercial Lines) sold 9,000 shares at $24.59 per share price. According to the SEC, on Jul 18, 2016, Stephen Ungar (SVP, GC and Secretary) sold 5,000 shares at $24.94 per share price. On Jun 3, 2016, David Saks (EVP, Chief Legal Officer) sold 10,000 shares at $26.54 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.