AMERISAFE (NASDAQ:AMSF) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of AMERISAFE (NASDAQ:AMSF) from a sell rating to a hold rating in a research report released on Thursday morning.

Separately, JMP Securities restated a market outperform rating and set a $65.00 price objective on shares of AMERISAFE in a research note on Tuesday, July 30th.

AMERISAFE Stock Up 0.3 %

AMSF opened at $46.85 on Thursday. AMERISAFE has a 12-month low of $41.97 and a 12-month high of $54.80. The stock has a market cap of $896.47 million, a price-to-earnings ratio of 14.60 and a beta of 0.33. The business has a 50 day moving average of $45.11 and a 200-day moving average of $47.51.

AMERISAFE (NASDAQ:AMSF) last announced its earnings results on Monday, July 29th. The insurance provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). The firm had revenue of $75.83 million for the quarter, compared to the consensus estimate of $74.20 million. AMERISAFE had a return on equity of 16.38% and a net margin of 18.46%. During the same quarter last year, the business posted $0.73 EPS. As a group, analysts expect that AMERISAFE will post 2.4 earnings per share for the current year.

AMERISAFE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, September 6th. AMERISAFE’s dividend payout ratio is presently 46.11%.

Insider Buying and Selling at AMERISAFE

In other news, Director Michael J. Brown acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $43.52 per share, with a total value of $43,520.00. Following the acquisition, the director now directly owns 10,055 shares in the company, valued at approximately $437,593.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On AMERISAFE

Several hedge funds have recently modified their holdings of AMSF. Isthmus Partners LLC lifted its holdings in AMERISAFE by 14.4% during the 2nd quarter. Isthmus Partners LLC now owns 76,870 shares of the insurance provider’s stock worth $34,000 after buying an additional 9,672 shares during the period. EntryPoint Capital LLC lifted its holdings in AMERISAFE by 22.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider’s stock worth $104,000 after buying an additional 376 shares during the period. SG Americas Securities LLC acquired a new position in AMERISAFE during the 1st quarter worth about $154,000. PNC Financial Services Group Inc. lifted its holdings in AMERISAFE by 26.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,901 shares of the insurance provider’s stock worth $182,000 after buying an additional 828 shares during the period. Finally, MeadowBrook Investment Advisors LLC acquired a new position in AMERISAFE during the 4th quarter worth about $232,000. Institutional investors and hedge funds own 97.41% of the company’s stock.

AMERISAFE Company Profile

AMERISAFE, Inc, an insurance holding company, underwrites workers' compensation insurance in the United States. The company provides benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. It sells its products through retail and wholesale brokers and agents; and small and mid-sized employers engaged in hazardous industries, including construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime.