HighTower Advisors LLC Sells 1,358 Shares of AMERISAFE, Inc. $AMSF

HighTower Advisors LLC lessened its stake in AMERISAFE, Inc. (NASDAQ:AMSF) by 17.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,346 shares of the insurance provider’s stock after selling 1,358 shares during the period. HighTower Advisors LLC’s holdings in AMERISAFE were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of AMERISAFE by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,443,585 shares of the insurance provider’s stock valued at $75,860,000 after acquiring an additional 49,778 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of AMERISAFE by 9.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 723,562 shares of the insurance provider’s stock valued at $38,023,000 after acquiring an additional 61,767 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in AMERISAFE by 13.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 684,558 shares of the insurance provider’s stock valued at $35,974,000 after purchasing an additional 79,750 shares during the period. Royce & Associates LP increased its holdings in AMERISAFE by 29.6% during the 1st quarter. Royce & Associates LP now owns 395,756 shares of the insurance provider’s stock valued at $20,797,000 after purchasing an additional 90,395 shares during the period. Finally, Northern Trust Corp increased its holdings in AMERISAFE by 3.8% during the 4th 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 during the period. Institutional investors own 97.41% of the company’s stock.

AMERISAFE Stock Performance

AMSF stock opened at $46.18 on Tuesday. AMERISAFE, Inc. has a fifty-two week low of $42.48 and a fifty-two week high of $60.24. The business’s 50 day moving average price is $44.85 and its two-hundred day moving average price is $47.31. The company has a market capitalization of $876.96 million, a price-to-earnings ratio of 17.49 and a beta of 0.38.

AMERISAFE (NASDAQ:AMSF) last posted its earnings results 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 firm had revenue of $79.70 million for the quarter, compared to analysts’ expectations of $77.30 million. Sell-side analysts forecast that AMERISAFE, Inc. will post 2.45 earnings per share for the current year.

AMERISAFE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, September 12th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.4%. AMERISAFE’s dividend payout ratio is 59.09%.

Wall Street Analyst Weigh In

AMSF has been the topic of a number of research analyst reports. Truist Financial reduced their price target on AMERISAFE from $54.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, July 28th. Wall Street Zen upgraded AMERISAFE from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

Insider Buying and Selling at AMERISAFE

In other AMERISAFE news, CFO Anastasios Omiridis sold 1,343 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.75, for a total transaction of $60,099.25. Following the transaction, the chief financial officer owned 2,253 shares in the company, valued at approximately $100,821.75. This represents a 37.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.61% of the company’s stock.

AMERISAFE 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.