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

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

Atlantic American Price Performance

NASDAQ AAME opened at $1.96 on Tuesday. The company’s 50 day simple moving average is $2.53 and its 200 day simple moving average is $2.25. Atlantic American has a 12 month low of $1.49 and a 12 month high of $3.00. The company has a market capitalization of $39.98 million, a P/E ratio of -65.31 and a beta of 0.32.

Atlantic American (NASDAQ:AAME) last released its quarterly earnings results on Monday, April 1st. The financial services provider reported ($0.21) earnings per share (EPS) for the quarter. Atlantic American had a negative net margin of 0.09% and a negative return on equity of 0.31%. The firm had revenue of $46.75 million for the quarter.

Atlantic American Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $0.02 dividend. This represents a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, April 11th. Atlantic American’s payout ratio is -66.64%.

Institutional Trading of Atlantic American

A number of institutional investors and hedge funds have recently modified their holdings of AAME. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Atlantic American in the 4th quarter valued at $43,000. BlackRock Inc. grew its holdings in shares of Atlantic American by 62.1% in the 2nd quarter. BlackRock Inc. now owns 44,945 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 17,212 shares during the last quarter. Finally, Independent Advisor Alliance bought a new stake in shares of Atlantic American in the 4th quarter worth about $32,000. 5.48% of the stock is currently owned by institutional investors and hedge funds.

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.