JMP Securities Reiterates “Market Outperform” Rating for AMERISAFE (NASDAQ:AMSF)

AMERISAFE (NASDAQ:AMSF)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $65.00 price objective on the insurance provider’s stock. JMP Securities’ price target would suggest a potential upside of 41.83% from the company’s current price.

AMERISAFE Trading Down 1.4 %

Shares of NASDAQ:AMSF opened at $45.83 on Wednesday. The firm’s 50 day moving average is $50.34 and its two-hundred day moving average is $52.16. The firm has a market capitalization of $873.06 million, a P/E ratio of 14.32 and a beta of 0.34. AMERISAFE has a 52 week low of $41.97 and a 52 week high of $60.24.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $83.78 million during the quarter, compared to analyst estimates of $76.66 million. AMERISAFE had a return on equity of 16.50% and a net margin of 19.49%. Analysts predict that AMERISAFE will post 2.45 EPS for the current year.

Hedge Funds Weigh In On AMERISAFE

Several large investors have recently bought and sold shares of AMSF. MQS Management LLC acquired a new stake in shares of AMERISAFE in the 1st quarter worth approximately $296,000. Isthmus Partners LLC raised its holdings in AMERISAFE by 0.8% during the first quarter. Isthmus Partners LLC now owns 64,441 shares of the insurance provider’s stock worth $3,386,000 after purchasing an additional 515 shares in the last quarter. Alps Advisors Inc. lifted its position in AMERISAFE by 7.8% in the first quarter. Alps Advisors Inc. now owns 106,697 shares of the insurance provider’s stock worth $5,607,000 after purchasing an additional 7,686 shares during the period. Principal Financial Group Inc. boosted its stake in AMERISAFE by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 94,924 shares of the insurance provider’s stock valued at $4,988,000 after purchasing an additional 2,288 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of AMERISAFE during the 1st quarter valued at $509,000. Institutional investors and hedge funds own 97.41% of the company’s stock.

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.