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

Investment analysts at StockNews.com began coverage on shares of Atlantic American (NASDAQ:AAME) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Atlantic American Stock Up 8.2 %

Atlantic American stock opened at $1.85 on Thursday. Atlantic American has a twelve month low of $1.49 and a twelve month high of $3.10. The firm has a 50 day moving average price of $1.83 and a 200-day moving average price of $1.95. The company has a market capitalization of $37.74 million, a P/E ratio of 14.23 and a beta of 0.34.

Institutional Trading of Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. BlackRock Inc. lifted its holdings in shares of Atlantic American Co. (NASDAQ:AAME) by 62.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,945 shares of the financial services provider’s stock after purchasing an additional 17,212 shares during the period. BlackRock Inc. owned about 0.22% of Atlantic American worth $87,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 5.67% of the company’s stock.

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 business automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; and inland marine and general liability insurance products.