Insurance Technology Industry News

TMCNet:  Downgrade Alert for Amtrust Financial Services (AFSI)

[February 15, 2013]

Downgrade Alert for Amtrust Financial Services (AFSI)

Feb 15, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Amtrust Financial Services (NASDAQ:AFSI) was downgraded from Outperform to Neutral at Macquarie today. The stock closed yesterday at $33.03 on volume of 566,000 shares, above average daily volume of 223,000. Amtrust Financial Services (NASDAQ:AFSI) is currently priced 3.2% above its average consensus analyst price target of $31.99. The stock should find initial support at its 50-day moving average (MA) of $30.98 and further support at its 200-day MA of $27.49.

Amtrust Financial Services share prices have moved between a 52-week high of $35.12 and a 52-week low of $23.14 and are now trading 43% above that low price at $33.03 per share. The 200-day and 50-day moving averages have moved 0.72% higher and 1.54% higher over the past week, respectively.

AmTrust Financial Services, Inc. offers insurance coverage. The Company offers property/casualty, workers' compensation, special risk, and warranty insurance, and extended service plans. The Company operates in the United States and the European Union, and reinsures risk worldwide.

SmarTrend recommended that subscribers consider buying shares of Amtrust Financial Services on November 6th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.08. Since that recommendation, shares of Amtrust Financial Services have risen 30.2%. We continue to monitor AFSI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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