Atlantic American (NASDAQ:AAME) Coverage Initiated at StockNews.com

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

Atlantic American Price Performance

NASDAQ AAME opened at $1.72 on Wednesday. The stock’s fifty day moving average price is $1.56 and its 200 day moving average price is $1.58. Atlantic American has a 1 year low of $1.25 and a 1 year high of $2.84. The company has a market cap of $35.09 million, a price-to-earnings ratio of -4.91 and a beta of 0.58.

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

Atlantic American Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a $0.02 dividend. This represents a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, April 9th. Atlantic American’s payout ratio is -9.09%.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar boosted its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the quarter. Atlantic American accounts for 0.7% of Biglari Sardar’s holdings, making the stock its 10th largest position. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities and Exchange Commission. 5.48% of the stock is currently owned by institutional investors.

About Atlantic American

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.