StockNews.com Initiates Coverage on Atlantic American (NASDAQ:AAME)

StockNews.com initiated coverage on shares of Atlantic American (NASDAQ:AAME) in a research report report published on Wednesday. The brokerage issued a hold rating on the financial services provider’s stock.

Atlantic American Stock Down 2.8 %

Shares of NASDAQ:AAME opened at $1.73 on Wednesday. Atlantic American has a fifty-two week low of $1.25 and a fifty-two week high of $2.84. The company’s 50-day moving average price is $1.55 and its 200 day moving average price is $1.58. The company has a market cap of $35.29 million, a PE ratio of -4.94 and a beta of 0.58.

Atlantic American (NASDAQ:AAME) last announced its earnings results on Tuesday, March 25th. The financial services provider reported ($0.04) EPS for the quarter. Atlantic American had a negative return on equity of 8.17% and a negative net margin of 3.72%. The firm had revenue of $49.04 million for the quarter.

Atlantic American Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a $0.02 dividend. The ex-dividend date is Wednesday, April 9th. This represents a dividend yield of 1.1%. Atlantic American’s dividend payout ratio (DPR) is -5.71%.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar boosted its stake in Atlantic American Co. (NASDAQ:AAME) by 17.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188,393 shares of the financial services provider’s stock after buying an additional 28,633 shares during the quarter. Atlantic American makes up about 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 5.48% of the company’s stock.

Atlantic American Company Profile

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. It operates through American Southern and Bankers Fidelity segments. The company offers property and casualty insurance products, including commercial automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; general liability; and inland marine insurance products.