AMERISAFE (NASDAQ:AMSF) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of AMERISAFE (NASDAQ:AMSF – Free Report) from a hold rating to a sell rating in a report published on Sunday,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Zacks Research raised AMERISAFE from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Truist Financial cut their target price on AMERISAFE from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.00.

Read Our Latest Stock Analysis on AMSF

AMERISAFE Trading Up 1.4%

AMSF stock opened at $23.60 on Friday. The company has a market cap of $437.54 million, a price-to-earnings ratio of 9.52 and a beta of 0.24. AMERISAFE has a 12 month low of $23.20 and a 12 month high of $42.63. The firm has a 50-day moving average of $26.07 and a two-hundred day moving average of $30.04.

AMERISAFE (NASDAQ:AMSF – Get Free Report) last issued its earnings results on Tuesday, July 21st. The insurance provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). The company had revenue of $91.97 million for the quarter, compared to analyst estimates of $85.09 million. AMERISAFE had a return on equity of 14.87% and a net margin of 14.00%. As a group, equities analysts forecast that AMERISAFE will post 1.97 earnings per share for the current year.

AMERISAFE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, September 11th. AMERISAFE’s payout ratio is presently 66.13%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMSF. Public Employees Retirement System of Ohio purchased a new stake in AMERISAFE in the 2nd quarter valued at about $1,344,000. Bank of America Corp DE boosted its stake 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 buying an additional 39,168 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of AMERISAFE during the second quarter valued at about $3,583,000. Legal & General Group Plc acquired a new stake in shares of AMERISAFE during the second quarter valued at about $1,539,000. Finally, Palisade Capital Management LP purchased a new stake in shares of AMERISAFE in the 2nd quarter valued at approximately $3,145,000. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

AMERISAFE Company Profile

(Get Free Report)

AMERISAFE, Inc (NASDAQ: AMSF) is a specialty workers’ compensation insurance company serving small and midsize employers in industries with elevated workplace risks. The company provides coverage designed to help businesses manage the costs associated with work-related injuries and occupational illnesses.

Its primary markets include construction, trucking, logging, agriculture, maritime operations, oil and gas, and other hazardous industries. In addition to insurance coverage, AMERISAFE emphasizes workplace safety, risk management, claims handling and return-to-work support to help policyholders reduce accidents and manage employee injuries.

Headquartered in DeRidder, Louisiana, AMERISAFE has historically focused on selected U.S.

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