Here's Why AmTrust Financial Services Stock Is Falling Today
Property-casualty insurance company AmTrust Financial Services (NASDAQ: AFSI) reported second-quarter earnings that came in short of analysts' estimates and fell by 48% year over year. The miss was largely fueled by higher catastrophe losses. As of 3:29 p.m. EDT, shares were down 9.9%.
Despite the bottom-line miss, AmTrust's earnings report wasn't all negative. Gross written premiums of $2.2 billion represented a 6.1% increase from a year ago, and fee income grew by an impressive 35.5%. AmTrust's board also approved its next $0.17 dividend payment, which translates to an annual yield of 4.8%, among the highest in the insurance industry.
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Source: Fool.com