GABELLI & Co INVESTMENT ADVISERS INC. Invests $2.15 Million in AmTrust Financial Services (AFSI)

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of AmTrust Financial Services (NASDAQ:AFSI) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 175,000 shares of the insurance provider’s stock, valued at approximately $2,154,000. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.09% of AmTrust Financial Services at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Wisconsin Investment Board lifted its holdings in shares of AmTrust Financial Services by 225.8% in the 1st quarter. State of Wisconsin Investment Board now owns 1,021,695 shares of the insurance provider’s stock worth $12,577,000 after acquiring an additional 708,095 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of AmTrust Financial Services by 277.8% in the 4th quarter. Guggenheim Capital LLC now owns 701,151 shares of the insurance provider’s stock worth $7,061,000 after acquiring an additional 515,547 shares during the period. Elo Mutual Pension Insurance Co bought a new stake in shares of AmTrust Financial Services in the 1st quarter worth approximately $5,933,000. Great Lakes Advisors LLC bought a new stake in shares of AmTrust Financial Services in the 1st quarter worth approximately $5,771,000. Finally, Bank of New York Mellon Corp lifted its position in shares of AmTrust Financial Services by 50.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,110,664 shares of the insurance provider’s stock worth $11,185,000 after acquiring an additional 372,065 shares during the period. Institutional investors own 28.79% of the company’s stock.

In other AmTrust Financial Services news, Chairman Barry D. Zyskind acquired 2,945,113 shares of the company’s stock in a transaction that occurred on Thursday, April 19th. The shares were acquired at an average price of $12.62 per share, with a total value of $37,167,326.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ariel Gorelik sold 5,707 shares of the business’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $13.30, for a total transaction of $75,903.10. The disclosure for this sale can be found here. Insiders own 50.80% of the company’s stock.

Shares of AmTrust Financial Services opened at $13.77 on Wednesday, Marketbeat.com reports. AmTrust Financial Services has a twelve month low of $8.80 and a twelve month high of $16.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $2.72 billion, a PE ratio of 13.06 and a beta of 1.29.

A number of analysts recently weighed in on the company. ValuEngine downgraded AmTrust Financial Services from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research cut shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. BidaskClub raised shares of AmTrust Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Compass Point cut shares of AmTrust Financial Services from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Monday, February 26th. Finally, SunTrust Banks cut shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. AmTrust Financial Services currently has an average rating of “Hold” and a consensus target price of $14.29.

About AmTrust Financial Services

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.

Institutional Ownership by Quarter for AmTrust Financial Services (NASDAQ:AFSI)

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