AMERISAFE, Inc. (NASDAQ:AMSF) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of AMERISAFE, Inc. (NASDAQ:AMSF) have been assigned a consensus recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $33.33.

Several equities analysts have weighed in on AMSF shares. Citigroup restated a “market outperform” rating on shares of AMERISAFE in a research note on Monday, October 12th. Wall Street Zen lowered shares of AMERISAFE from a “hold” rating to a “sell” rating in a research note on Sunday. Truist Financial lowered their target price on shares of AMERISAFE from $27.00 to $25.00 and set a “hold” rating for the company in a report on Friday, October 30th. Zacks Research lowered shares of AMERISAFE from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 4th. Finally, Morgan Stanley set a $40.00 price target on shares of AMERISAFE in a research report on Monday, October 12th.

AMERISAFE Stock Up 1.3%

Shares of AMERISAFE stock opened at $19.89 on Friday. AMERISAFE has a 52 week low of $19.39 and a 52 week high of $42.10. The business has a 50 day moving average price of $24.05 and a 200-day moving average price of $30.36. The company has a market cap of $368.62 million, a PE ratio of 9.25 and a beta of 0.23.

AMERISAFE (NASDAQ:AMSF) last announced its earnings results on Wednesday, October 28th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.08). AMERISAFE had a net margin of 12.10% and a return on equity of 14.15%. The company had revenue of $79.81 million for the quarter, compared to analysts’ expectations of $84.72 million. As a group, research analysts anticipate that AMERISAFE will post 1.88 EPS for the current year.

AMERISAFE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, December 4th will be paid a $0.41 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.64 annualized dividend and a yield of 8.2%. AMERISAFE’s dividend payout ratio (DPR) is 76.28%.

Hedge Funds Weigh In On AMERISAFE

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of AMERISAFE in the second quarter valued at approximately $122,167,000. Bank of America Corp DE lifted its holdings in AMERISAFE by 6.7% during the first quarter. Bank of America Corp DE now owns 623,697 shares of the insurance provider’s stock worth $20,788,000 after acquiring an additional 39,168 shares during the period. Renaissance Technologies LLC boosted its position in AMERISAFE by 19.3% in the first quarter. Renaissance Technologies LLC now owns 261,375 shares of the insurance provider’s stock worth $8,712,000 after purchasing an additional 42,375 shares during the last quarter. Sei Investments Co. boosted its position in AMERISAFE by 125.0% in the first quarter. Sei Investments Co. now owns 138,584 shares of the insurance provider’s stock worth $4,619,000 after purchasing an additional 76,989 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in AMERISAFE in the second quarter worth $3,583,000. Institutional investors own 97.41% of the company’s stock.

About AMERISAFE

AMERISAFE, Inc. is a specialty workers’ compensation insurance company serving small and midsized businesses. The company focuses on employers in industries with elevated workplace risks, including construction, trucking, logging, agriculture, manufacturing, and maritime operations. Through its insurance subsidiaries, AMERISAFE provides workers’ compensation coverage designed to protect businesses from costs associated with workplace injuries and occupational illnesses. Its services also include workplace safety and loss-control support, claims management, medical cost containment, and premium audit services.