AMERISAFE (NASDAQ:AMSF) PT Raised to $54.00 at Truist Financial

AMERISAFE (NASDAQ:AMSF) had its price target increased by analysts at Truist Financial from $48.00 to $54.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the insurance provider’s stock. Truist Financial’s target price indicates a potential downside of 1.78% from the stock’s current price.

Several other research analysts have also recently weighed in on AMSF. StockNews.com upgraded AMERISAFE from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 target price on shares of AMERISAFE in a research note on Tuesday, October 15th.

AMERISAFE Price Performance

AMSF stock opened at $54.98 on Friday. The firm’s fifty day simple moving average is $49.33 and its 200-day simple moving average is $47.10. AMERISAFE has a 12 month low of $41.97 and a 12 month high of $56.46. The company has a market capitalization of $1.05 billion, a P/E ratio of 17.13 and a beta of 0.34.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The company 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 16.38% and a net margin of 18.46%. During the same period last year, the firm earned $0.61 EPS. As a group, sell-side analysts forecast that AMERISAFE will post 2.4 earnings per share for the current year.

Institutional Trading of AMERISAFE

Institutional investors and hedge funds have recently made changes to their positions in the business. Kathleen S. Wright Associates Inc. purchased a new position in shares of AMERISAFE during the 3rd quarter valued at approximately $28,000. Quarry LP raised its position in AMERISAFE by 1,028.4% during the second quarter. Quarry LP now owns 756 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 689 shares during the period. Isthmus Partners LLC lifted its holdings in AMERISAFE by 14.4% during the second quarter. Isthmus Partners LLC now owns 76,870 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 9,672 shares in the last quarter. GAMMA Investing LLC grew its position in shares of AMERISAFE by 97.1% in the third quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 405 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of AMERISAFE during the second quarter worth about $100,000. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

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.