Truist Financial Has Lowered Expectations for AMERISAFE (NASDAQ:AMSF) Stock Price

AMERISAFE (NASDAQ:AMSF) had its target price dropped by analysts at Truist Financial from $36.00 to $34.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm currently has a “hold” rating on the insurance provider’s stock. Truist Financial’s price target points to a potential upside of 12.06% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Weiss Ratings lowered AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Morgan Stanley set a $55.00 price objective on AMERISAFE in a research note on Friday, January 16th. Citizens Jmp lowered their price objective on AMERISAFE from $50.00 to $45.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. Citigroup reiterated a “market outperform” rating on shares of AMERISAFE in a research note on Friday, January 16th. Finally, Wall Street Zen lowered AMERISAFE from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $44.67.

AMERISAFE Stock Down 2.4%

Shares of AMSF opened at $30.34 on Thursday. AMERISAFE has a 12-month low of $29.45 and a 12-month high of $49.94. The firm has a market capitalization of $570.39 million, a price-to-earnings ratio of 12.49 and a beta of 0.31. The stock’s 50-day moving average price is $33.85 and its 200 day moving average price is $37.47.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). AMERISAFE had a net margin of 14.27% and a return on equity of 15.34%. The firm had revenue of $80.09 million for the quarter, compared to the consensus estimate of $90.49 million. Equities research analysts expect that AMERISAFE will post 2.1 EPS for the current year.

Institutional Investors Weigh In On AMERISAFE

Several large investors have recently modified their holdings of the stock. Auto Owners Insurance Co grew its position in AMERISAFE by 3,741.0% during the 4th quarter. Auto Owners Insurance Co now owns 16,397,229 shares of the insurance provider’s stock worth $62,982,000 after acquiring an additional 15,970,329 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in AMERISAFE by 0.3% in the fourth quarter. Neuberger Berman Group LLC now owns 1,800,952 shares of the insurance provider’s stock worth $69,175,000 after purchasing an additional 6,175 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in AMERISAFE by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 843,539 shares of the insurance provider’s stock worth $32,400,000 after purchasing an additional 41,496 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in AMERISAFE by 55.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 696,095 shares of the insurance provider’s stock worth $26,737,000 after purchasing an additional 248,105 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in AMERISAFE by 8.4% in the third quarter. Bank of America Corp DE now owns 658,682 shares of the insurance provider’s stock worth $28,877,000 after purchasing an additional 50,765 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors.

AMERISAFE Company Profile

Amerisafe, Inc (NASDAQ: AMSF) is a specialty provider of workers’ compensation insurance products and services in the United States. The company focuses on underwriting and managing workers’ compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety.

In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services.