AMERISAFE (NASDAQ:AMSF) Upgraded at StockNews.com

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

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

AMERISAFE Stock Performance

NASDAQ AMSF opened at $46.85 on Thursday. The firm has a market capitalization of $896.47 million, a price-to-earnings ratio of 14.60 and a beta of 0.33. The company’s 50 day moving average price is $45.11 and its 200 day moving average price is $47.51. AMERISAFE has a one year low of $41.97 and a one year high of $54.80.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.58 earnings per share (EPS) 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 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 quarter in the prior year, the business earned $0.73 EPS. Sell-side analysts forecast that AMERISAFE will post 2.4 EPS for the current fiscal year.

AMERISAFE Announces Dividend

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

Insider Buying and Selling

In other AMERISAFE news, Director Michael J. Brown acquired 1,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $43.52 per share, with a total value of $43,520.00. Following the completion of the acquisition, the director now directly owns 10,055 shares in the company, valued at approximately $437,593.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On AMERISAFE

A number of hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC boosted its holdings in shares of AMERISAFE by 22.0% during the first quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider’s stock valued at $104,000 after acquiring an additional 376 shares during the period. SG Americas Securities LLC acquired a new position in shares of AMERISAFE during the first quarter valued at $154,000. PNC Financial Services Group Inc. boosted its holdings in shares of AMERISAFE by 26.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,901 shares of the insurance provider’s stock valued at $182,000 after acquiring an additional 828 shares during the period. MeadowBrook Investment Advisors LLC acquired a new position in shares of AMERISAFE during the fourth quarter valued at $232,000. Finally, Virtu Financial LLC acquired a new position in shares of AMERISAFE during the first quarter valued at $253,000. Institutional investors and hedge funds own 97.41% of the company’s stock.

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.