AMERISAFE (NASDAQ:AMSF) Shares Gap Down – Should You Sell?

AMERISAFE, Inc. (NASDAQ:AMSF)’s share price gapped down before the market opened on Friday . The stock had previously closed at $39.13, but opened at $37.64. AMERISAFE shares last traded at $38.0950, with a volume of 18,670 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AMSF shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of AMERISAFE in a research note on Monday. Wall Street Zen downgraded AMERISAFE from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Citigroup reaffirmed a “market outperform” rating on shares of AMERISAFE in a research report on Thursday, October 30th. Finally, JMP Securities cut their target price on AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.00.

AMERISAFE Stock Down 4.2%

The stock has a market capitalization of $709.12 million, a PE ratio of 14.31 and a beta of 0.37. The business’s 50-day moving average is $41.18 and its two-hundred day moving average is $43.73.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. AMERISAFE had a return on equity of 16.94% and a net margin of 16.12%.The company had revenue of $71.29 million for the quarter, compared to analyst estimates of $78.29 million. As a group, analysts anticipate that AMERISAFE, Inc. will post 2.45 EPS for the current year.

AMERISAFE Announces Dividend

The company also recently declared a special dividend, which will be paid on Friday, December 12th. Investors of record on Friday, December 5th will be paid a dividend of $1.00 per share. This represents a yield of 410.0%. The ex-dividend date is Friday, December 5th. AMERISAFE’s dividend payout ratio (DPR) is currently 59.77%.

Insider Buying and Selling

In other AMERISAFE news, CFO Anastasios Omiridis sold 1,247 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $40.21, for a total value of $50,141.87. Following the completion of the sale, the chief financial officer owned 2,539 shares in the company, valued at approximately $102,093.19. The trade was a 32.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AMERISAFE

Institutional investors have recently modified their holdings of the business. Nuveen LLC purchased a new stake in AMERISAFE in the 1st quarter valued at $8,466,000. Millennium Management LLC increased its stake in AMERISAFE by 176.3% in the third quarter. Millennium Management LLC now owns 191,825 shares of the insurance provider’s stock valued at $8,410,000 after purchasing an additional 122,387 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of AMERISAFE in the second quarter valued at about $4,345,000. Goldman Sachs Group Inc. boosted its stake in shares of AMERISAFE by 82.6% during the first quarter. Goldman Sachs Group Inc. now owns 217,280 shares of the insurance provider’s stock worth $11,418,000 after buying an additional 98,293 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of AMERISAFE by 21.3% during the third quarter. Royce & Associates LP now owns 555,621 shares of the insurance provider’s stock worth $24,358,000 after buying an additional 97,434 shares during the period. 97.41% of the stock is owned by institutional investors and hedge funds.

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.