Amerisafe (AMSF) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Amerisafe (NASDAQ:AMSF) from a sell rating to a hold rating in a report released on Tuesday morning, BidAskClub reports.

Several other research firms also recently weighed in on AMSF. ValuEngine downgraded Amerisafe from a buy rating to a hold rating in a report on Wednesday, March 20th. Zacks Investment Research downgraded Amerisafe from a buy rating to a hold rating in a report on Monday, February 11th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Amerisafe in a report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $66.33.

AMSF stock opened at $59.57 on Tuesday. The company has a market capitalization of $1.14 billion, a PE ratio of 15.43 and a beta of 0.50. Amerisafe has a twelve month low of $50.46 and a twelve month high of $67.96.

Amerisafe (NASDAQ:AMSF) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.14. The business had revenue of $92.97 million during the quarter, compared to the consensus estimate of $93.62 million. Amerisafe had a return on equity of 17.34% and a net margin of 19.76%. Sell-side analysts predict that Amerisafe will post 3.23 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Thursday, June 6th. Amerisafe’s dividend payout ratio is currently 25.91%.

In other news, EVP Kathryn Housh Shirley sold 1,284 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $61.53, for a total value of $79,004.52. Following the completion of the transaction, the executive vice president now owns 10,569 shares in the company, valued at $650,310.57. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO G. Janelle Frost sold 1,691 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $61.50, for a total value of $103,996.50. Following the completion of the transaction, the chief executive officer now owns 57,912 shares of the company’s stock, valued at approximately $3,561,588. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,553 shares of company stock valued at $218,698. Company insiders own 1.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AMSF. Ceredex Value Advisors LLC purchased a new stake in Amerisafe during the 1st quarter worth about $11,696,000. Tygh Capital Management Inc. purchased a new stake in Amerisafe during the 4th quarter worth about $10,513,000. Eaton Vance Management purchased a new stake in Amerisafe during the 4th quarter worth about $6,184,000. Robeco Institutional Asset Management B.V. increased its position in Amerisafe by 2,030.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 103,665 shares of the insurance provider’s stock worth $6,158,000 after purchasing an additional 98,799 shares in the last quarter. Finally, Morgan Stanley increased its position in Amerisafe by 117.2% during the 3rd quarter. Morgan Stanley now owns 138,608 shares of the insurance provider’s stock worth $8,587,000 after purchasing an additional 74,804 shares in the last quarter.

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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