BidaskClub Lowers Amerisafe (NASDAQ:AMSF) to Hold

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BidaskClub cut shares of Amerisafe (NASDAQ:AMSF) from a buy rating to a hold rating in a research note released on Tuesday, BidAskClub reports.

Other equities research analysts have also issued reports about the company. ValuEngine raised Amerisafe from a hold rating to a buy rating in a research note on Wednesday, February 13th. Zacks Investment Research raised Amerisafe from a hold rating to a buy rating and set a $69.00 price target for the company in a research note on Tuesday, February 12th. Finally, Boenning Scattergood reissued a hold rating on shares of Amerisafe in a research note on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Amerisafe presently has an average rating of Hold and a consensus target price of $66.33.

Shares of AMSF stock opened at $60.15 on Tuesday. Amerisafe has a 52-week low of $50.46 and a 52-week high of $67.96. The company has a market cap of $1.17 billion, a P/E ratio of 15.58 and a beta of 0.49.

Amerisafe (NASDAQ:AMSF) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.14. Amerisafe had a return on equity of 17.34% and a net margin of 19.76%. The firm had revenue of $92.97 million during the quarter, compared to analyst estimates of $93.62 million. On average, analysts anticipate that Amerisafe will post 3.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.66%. Amerisafe’s payout ratio is currently 25.91%.

In other Amerisafe news, CFO Neal Andrew Fuller sold 885 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $59.68, for a total transaction of $52,816.80. Following the transaction, the chief financial officer now directly owns 22,110 shares in the company, valued at approximately $1,319,524.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vincent J. Gagliano sold 654 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $60.04, for a total value of $39,266.16. Following the transaction, the executive vice president now owns 17,492 shares in the company, valued at $1,050,219.68. The disclosure for this sale can be found here. Insiders have sold a total of 4,125 shares of company stock worth $246,441 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in Amerisafe by 0.4% during the 4th quarter. Legal & General Group Plc now owns 41,308 shares of the insurance provider’s stock worth $2,335,000 after purchasing an additional 170 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Amerisafe by 0.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 63,361 shares of the insurance provider’s stock valued at $3,592,000 after acquiring an additional 170 shares during the period. Mason Street Advisors LLC increased its holdings in shares of Amerisafe by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 6,189 shares of the insurance provider’s stock valued at $368,000 after acquiring an additional 205 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Amerisafe by 1.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 19,954 shares of the insurance provider’s stock valued at $1,185,000 after acquiring an additional 252 shares during the period. Finally, Piedmont Investment Advisors Inc. increased its holdings in shares of Amerisafe by 5.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 4,852 shares of the insurance provider’s stock valued at $288,000 after acquiring an additional 270 shares during the period.

About Amerisafe

AMERISAFE, Inc, an insurance holding company, underwrites workers' compensation insurance in the United States. Its workers' compensation insurance policies provide benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. The company provides workers' compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, agriculture, maritime, and oil and gas.

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