Bank of America Corp DE Sells 74,823 Shares of AMERISAFE, Inc. (NASDAQ:AMSF)

Bank of America Corp DE cut its holdings in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 556,801 shares of the insurance provider’s stock after selling 74,823 shares during the period. Bank of America Corp DE owned approximately 2.92% of AMERISAFE worth $28,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its holdings in AMERISAFE by 7.8% during the fourth quarter. Ameriprise Financial Inc. now owns 102,843 shares of the insurance provider’s stock worth $5,301,000 after acquiring an additional 7,399 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of AMERISAFE by 3.8% in the fourth quarter. Northern Trust Corp now owns 206,675 shares of the insurance provider’s stock valued at $10,652,000 after purchasing an additional 7,517 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of AMERISAFE by 83.5% in the fourth quarter. Tudor Investment Corp ET AL now owns 24,733 shares of the insurance provider’s stock valued at $1,275,000 after purchasing an additional 11,258 shares in the last quarter. Aquatic Capital Management LLC lifted its holdings in shares of AMERISAFE by 336.1% in the fourth quarter. Aquatic Capital Management LLC now owns 3,925 shares of the insurance provider’s stock valued at $202,000 after purchasing an additional 3,025 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of AMERISAFE by 8.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,918 shares of the insurance provider’s stock valued at $821,000 after purchasing an additional 1,210 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors.

AMERISAFE Price Performance

Shares of AMERISAFE stock opened at $47.95 on Friday. The stock’s 50-day moving average is $49.49 and its 200-day moving average is $51.73. The firm has a market cap of $913.45 million, a price-to-earnings ratio of 14.98 and a beta of 0.41. AMERISAFE, Inc. has a one year low of $41.97 and a one year high of $60.24.

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

AMERISAFE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, June 13th. AMERISAFE’s dividend payout ratio is currently 62.90%.

Analysts Set New Price Targets

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

About AMERISAFE

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.