Michael Saxon, Executive Vice President and Chief Operating Officer at Amtrust Financial Services, Inc. (NASDAQ:AFSI), sold 20,538 shares of Common Stock yesterday, for a weighted average price of $41.73 per share. The transaction was effected directly and pursuant to a Rule 10b5-1 trading plan adopted by the insider on February 18, 2014. Furthermore, Saxon exercised his use of stock options and following yesterday’s disposition he now holds a total of 279,476 company shares.
Amtrust Financial saw several insiders unload their stock this quarter, with one of the larger sales belonging to Christopher Longo, Executive Vice President and Chief Information Officer at the $3.14 billion market cap holding firm. Longo unloaded 11,605 shares of Common Stock ten days ago, for a price of $40.75 per share.
However, in spite of the recent insider stock sales, this quarter showed improvements regarding hedge fund holdings. Casey Nelson’s Alistair Capital increased the firm’s portfolio participation by 10% and now holds a total of 2.59 million shares, worth $97.6 million and accounting for 39.53% of the hedge fund’s portfolio.