TimesSquare Capital Management LLC lifted its stake in AMERISAFE, Inc. (NASDAQ:AMSF) by 64.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545,380 shares of the insurance provider’s stock after purchasing an additional 214,400 shares during the period. TimesSquare Capital Management LLC owned 2.85% of AMERISAFE worth $31,059,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Schroder Investment Management Group increased its stake in shares of AMERISAFE by 55.6% in the 2nd quarter. Schroder Investment Management Group now owns 430,189 shares of the insurance provider’s stock worth $24,542,000 after purchasing an additional 153,671 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of AMERISAFE by 0.9% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,315 shares of the insurance provider’s stock worth $644,000 after purchasing an additional 100 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of AMERISAFE by 52.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 137,626 shares of the insurance provider’s stock worth $7,837,000 after purchasing an additional 47,247 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of AMERISAFE by 19.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,219,841 shares of the insurance provider’s stock worth $69,470,000 after purchasing an additional 202,379 shares in the last quarter. Finally, Tygh Capital Management Inc. increased its stake in shares of AMERISAFE by 32.5% in the 2nd quarter. Tygh Capital Management Inc. now owns 106,713 shares of the insurance provider’s stock worth $6,077,000 after purchasing an additional 26,195 shares in the last quarter. Hedge funds and other institutional investors own 99.51% of the company’s stock.
Several research firms have recently commented on AMSF. BidaskClub upgraded AMERISAFE from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded AMERISAFE from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, September 1st.
In related news, Director Randy Roach sold 500 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $56.90, for a total transaction of $28,450.00. Following the completion of the transaction, the director now directly owns 8,399 shares in the company, valued at $477,903.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.20% of the company’s stock.
Shares of AMERISAFE, Inc. (NASDAQ AMSF) opened at 54.05 on Monday. AMERISAFE, Inc. has a 1-year low of $51.20 and a 1-year high of $69.40. The stock has a 50 day moving average price of $55.78 and a 200 day moving average price of $58.22. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 15.76 and a beta of 0.89.
AMERISAFE (NASDAQ:AMSF) last posted its earnings results on Thursday, July 27th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $89.93 million during the quarter, compared to the consensus estimate of $92.33 million. AMERISAFE had a net margin of 17.17% and a return on equity of 14.04%. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. Equities research analysts anticipate that AMERISAFE, Inc. will post $3.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. AMERISAFE’s dividend payout ratio is presently 23.32%.
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Amerisafe, Inc is an insurance holding company. The Company is engaged in providing workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, and agriculture. It is engaged in underwriting the workers’ compensation exposures inherent in these industries.
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