State of New Jersey Common Pension Fund D Has $1.78 Million Stock Holdings in AMERISAFE, Inc. $AMSF

State of New Jersey Common Pension Fund D boosted its position in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,618 shares of the insurance provider’s stock after buying an additional 1,905 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.21% of AMERISAFE worth $1,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMSF. GAMMA Investing LLC grew its position in shares of AMERISAFE by 19.1% during the 1st quarter. GAMMA Investing LLC now owns 1,600 shares of the insurance provider’s stock worth $84,000 after buying an additional 257 shares during the period. Allspring Global Investments Holdings LLC bought a new position in AMERISAFE during the 1st quarter worth approximately $509,000. Principal Financial Group Inc. grew its holdings in AMERISAFE by 2.5% during the first 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 during the period. Alps Advisors Inc. grew its holdings in AMERISAFE by 7.8% during the first quarter. Alps Advisors Inc. now owns 106,697 shares of the insurance provider’s stock valued at $5,607,000 after purchasing an additional 7,686 shares during the period. Finally, Isthmus Partners LLC increased its stake in AMERISAFE by 0.8% in the first quarter. Isthmus Partners LLC now owns 64,441 shares of the insurance provider’s stock valued at $3,386,000 after purchasing an additional 515 shares in the last quarter. 97.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AMERISAFE

In other AMERISAFE news, CFO Anastasios Omiridis sold 1,343 shares of the firm’s stock in a transaction 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 directly owned 2,253 shares in the company, valued at approximately $100,821.75. This trade represents a 37.35% decrease in their position. The sale 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 Stock Performance

AMSF opened at $40.08 on Monday. AMERISAFE, Inc. has a 52-week low of $39.09 and a 52-week high of $60.24. The firm has a market cap of $761.16 million, a P/E ratio of 15.36 and a beta of 0.32. The business’s fifty day moving average is $43.33 and its 200-day moving average is $44.91.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $81.98 million for the quarter, compared to the consensus estimate of $78.29 million. AMERISAFE had a net margin of 16.12% and a return on equity of 17.16%. On average, research analysts predict that AMERISAFE, Inc. will post 2.45 earnings per share for the current fiscal year.

AMERISAFE Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, December 5th will be paid a $1.00 dividend. This represents a dividend yield of 394.0%. The ex-dividend date of this dividend is Friday, December 5th. AMERISAFE’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AMERISAFE in a research report on Wednesday, October 8th. Truist Financial lowered their target price on AMERISAFE from $54.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, July 28th. Citigroup restated a “market outperform” rating on shares of AMERISAFE in a report on Thursday. JMP Securities cut their price target on shares of AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

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.