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

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

Atlantic American Stock Down 1.5 %

Shares of NASDAQ:AAME opened at $1.99 on Tuesday. The stock has a market cap of $40.60 million, a price-to-earnings ratio of -66.31 and a beta of 0.32. Atlantic American has a 12-month low of $1.49 and a 12-month high of $3.00. The business’s 50 day moving average is $2.56 and its 200 day moving average is $2.25.

Atlantic American Announces Dividend

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

Institutional Investors Weigh In On Atlantic American

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