Comerica Bank Cuts Stake in AMERISAFE, Inc. (NASDAQ:AMSF)

Comerica Bank lowered its position in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,671 shares of the insurance provider’s stock after selling 247 shares during the quarter. Comerica Bank’s holdings in AMERISAFE were worth $344,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Franklin Resources Inc. purchased a new position in AMERISAFE during the 4th quarter worth $359,000. Nisa Investment Advisors LLC increased its holdings in shares of AMERISAFE by 1,328.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,914 shares of the insurance provider’s stock valued at $305,000 after purchasing an additional 5,500 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of AMERISAFE by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,795 shares of the insurance provider’s stock valued at $34,109,000 after purchasing an additional 21,799 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of AMERISAFE in the 4th quarter valued at about $9,708,000. Finally, Geode Capital Management LLC increased its holdings in shares of AMERISAFE by 18.4% in the 4th quarter. Geode Capital Management LLC now owns 536,836 shares of the insurance provider’s stock valued at $27,675,000 after purchasing an additional 83,297 shares in the last quarter. Hedge funds and other institutional investors own 97.41% of the company’s stock.

AMERISAFE Stock Up 0.9%

Shares of AMSF opened at $47.95 on Friday. The company has a 50-day simple moving average of $49.49 and a 200-day simple moving average of $51.75. The company has a market capitalization of $913.45 million, a PE ratio of 14.98 and a beta of 0.41. AMERISAFE, Inc. has a 52-week low of $41.97 and a 52-week high of $60.24.

AMERISAFE (NASDAQ:AMSF) last posted its earnings results on Tuesday, April 29th. The insurance provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. AMERISAFE had a net margin of 19.49% and a return on equity of 16.50%. The firm had revenue of $83.78 million during the quarter, compared to the consensus estimate of $76.66 million. On average, research analysts anticipate that AMERISAFE, Inc. will post 2.45 EPS for the current year.

AMERISAFE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 annualized dividend and a yield of 3.25%. AMERISAFE’s dividend payout ratio (DPR) is currently 62.90%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market outperform” rating and issued a $65.00 price target on shares of AMERISAFE in a report on Wednesday, April 30th.

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.