AMERISAFE’s (AMSF) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of AMERISAFE (NASDAQ:AMSF) in a research report released on Tuesday, Benzinga reports. They currently have a $65.00 price target on the insurance provider’s stock.

Separately, StockNews.com raised shares of AMERISAFE from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.

AMERISAFE Stock Performance

Shares of AMSF stock opened at $51.52 on Tuesday. The firm has a market capitalization of $985.84 million, a PE ratio of 16.05 and a beta of 0.34. The stock has a fifty day simple moving average of $48.73 and a two-hundred day simple moving average of $46.94. AMERISAFE has a 52-week low of $41.97 and a 52-week high of $54.80.

AMERISAFE (NASDAQ:AMSF) last posted its earnings results on Monday, July 29th. The insurance provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.03). The company had revenue of $75.83 million for the quarter, compared to analysts’ expectations of $74.20 million. AMERISAFE had a net margin of 18.46% and a return on equity of 16.38%. During the same period in the previous year, the business posted $0.73 earnings per share. On average, sell-side analysts forecast that AMERISAFE will post 2.4 EPS for the current fiscal year.

AMERISAFE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.37 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.48 annualized dividend and a dividend yield of 2.87%. AMERISAFE’s payout ratio is 46.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Kathleen S. Wright Associates Inc. purchased a new stake in shares of AMERISAFE in the third quarter valued at approximately $28,000. Quarry LP grew its stake in AMERISAFE by 1,028.4% in the second quarter. Quarry LP now owns 756 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 689 shares during the last quarter. Isthmus Partners LLC grew its position in shares of AMERISAFE by 14.4% in 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 last quarter. GAMMA Investing LLC increased its position in shares of AMERISAFE by 97.1% during the third quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 405 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in AMERISAFE during the 2nd quarter valued at about $100,000. 97.41% of the stock is currently owned by institutional investors.

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.