Short Interest in AMERISAFE, Inc. (NASDAQ:AMSF) Rises By 46.6%

AMERISAFE, Inc. (NASDAQ:AMSF) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 253,200 shares, a growth of 46.6% from the December 15th total of 172,700 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily volume of 118,500 shares, the days-to-cover ratio is presently 2.1 days.

AMERISAFE Stock Up 1.3 %

NASDAQ:AMSF opened at $51.77 on Thursday. AMERISAFE has a 12-month low of $41.97 and a 12-month high of $60.24. The stock’s fifty day simple moving average is $54.66 and its 200-day simple moving average is $50.82. The firm has a market capitalization of $986.22 million, a P/E ratio of 16.18 and a beta of 0.35.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $78.70 million for the quarter, compared to the consensus estimate of $75.38 million. AMERISAFE had a return on equity of 16.50% and a net margin of 19.49%. During the same quarter last year, the business posted $0.61 EPS. As a group, equities research analysts expect that AMERISAFE will post 2.45 earnings per share for the current year.

AMERISAFE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, December 6th were paid a dividend of $3.37 per share. This represents a $13.48 dividend on an annualized basis and a yield of 26.04%. This is a boost from AMERISAFE’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, December 6th. AMERISAFE’s dividend payout ratio is presently 46.25%.

Institutional Investors Weigh In On AMERISAFE

Several institutional investors have recently added to or reduced their stakes in AMSF. GAMMA Investing LLC grew its stake in AMERISAFE by 63.4% in the fourth quarter. GAMMA Investing LLC now owns 1,343 shares of the insurance provider’s stock valued at $69,000 after purchasing an additional 521 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of AMERISAFE by 17.5% in the third quarter. JPMorgan Chase & Co. now owns 34,726 shares of the insurance provider’s stock valued at $1,678,000 after buying an additional 5,168 shares in the last quarter. Virtu Financial LLC acquired a new position in AMERISAFE during the third quarter worth $200,000. Barclays PLC grew its position in shares of AMERISAFE by 365.6% in the 3rd quarter. Barclays PLC now owns 33,219 shares of the insurance provider’s stock valued at $1,605,000 after acquiring an additional 26,084 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of AMERISAFE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 453,539 shares of the insurance provider’s stock worth $21,924,000 after purchasing an additional 6,166 shares during the last quarter. 97.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on AMSF shares. JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price objective on shares of AMERISAFE in a report on Tuesday, October 15th. Truist Financial boosted their price objective on AMERISAFE from $48.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, October 25th.

About AMERISAFE

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.