AMERISAFE (NASDAQ:AMSF) Raised to “Hold” at Wall Street Zen

AMERISAFE (NASDAQ:AMSF) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Other equities analysts have also issued research reports about the company. Truist Financial decreased their target price on AMERISAFE from $54.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, July 28th. JMP Securities reissued a “market outperform” rating and set a $65.00 target price on shares of AMERISAFE in a research note on Wednesday, April 30th.

AMERISAFE Stock Performance

NASDAQ AMSF opened at $45.14 on Friday. The stock’s fifty day moving average is $44.50 and its two-hundred day moving average is $47.63. The firm has a market capitalization of $857.21 million, a P/E ratio of 17.10 and a beta of 0.39. AMERISAFE has a fifty-two week low of $42.48 and a fifty-two week high of $60.24.

AMERISAFE (NASDAQ:AMSF) last released its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). AMERISAFE had a return on equity of 16.54% and a net margin of 16.46%. The company had revenue of $79.70 million for the quarter, compared to analyst estimates of $77.30 million. As a group, sell-side analysts forecast that AMERISAFE will post 2.45 EPS for the current year.

Insider Activity

In related news, CFO Anastasios Omiridis sold 1,343 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $44.75, for a total value of $60,099.25. Following the completion of the sale, the chief financial officer directly owned 2,253 shares of the company’s stock, valued at $100,821.75. This represents a 37.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.61% of the stock is currently owned by company insiders.

Institutional Trading of AMERISAFE

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of AMERISAFE in the 1st quarter valued at about $509,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of AMERISAFE by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,524 shares of the insurance provider’s stock valued at $818,000 after purchasing an additional 1,731 shares during the period. Deutsche Bank AG boosted its position in shares of AMERISAFE by 52.0% in the 4th quarter. Deutsche Bank AG now owns 18,610 shares of the insurance provider’s stock valued at $959,000 after purchasing an additional 6,366 shares during the period. Nuveen Asset Management LLC boosted its position in shares of AMERISAFE by 92.1% in the 4th quarter. Nuveen Asset Management LLC now owns 161,815 shares of the insurance provider’s stock valued at $8,340,000 after purchasing an additional 77,582 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of AMERISAFE by 7.8% in the 4th quarter. Ameriprise Financial Inc. now owns 102,843 shares of the insurance provider’s stock valued at $5,301,000 after purchasing an additional 7,399 shares during the period. 97.41% of the stock is owned by institutional investors and hedge funds.

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.