Wells Fargo & Company MN lessened its holdings in AMERISAFE, Inc. (NASDAQ:AMSF) by 32.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,946 shares of the insurance provider’s stock after selling 43,762 shares during the quarter. Wells Fargo & Company MN owned about 0.47% of AMERISAFE worth $5,179,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of AMSF. BlackRock Inc. increased its holdings in AMERISAFE by 90,634.5% in the 1st quarter. BlackRock Inc. now owns 2,254,752 shares of the insurance provider’s stock worth $146,333,000 after buying an additional 2,252,267 shares during the period. American Century Companies Inc. acquired a new position in AMERISAFE in the 2nd quarter worth approximately $12,471,000. TimesSquare Capital Management LLC increased its holdings in AMERISAFE by 64.8% in the 2nd quarter. TimesSquare Capital Management LLC now owns 545,380 shares of the insurance provider’s stock worth $31,059,000 after buying an additional 214,400 shares during the period. Neuberger Berman Group LLC increased its holdings in 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 buying an additional 202,379 shares during the period. Finally, Copeland Capital Management LLC acquired a new position in AMERISAFE in the 2nd quarter worth approximately $9,271,000. Institutional investors own 99.51% of the company’s stock.
Several brokerages recently weighed in on AMSF. BidaskClub upgraded shares of AMERISAFE from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research downgraded shares of AMERISAFE from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Finally, Boenning Scattergood began coverage on shares of AMERISAFE in a report on Monday, September 25th. They issued a “neutral” rating on the stock.
In other news, CFO Neal Andrew Fuller sold 1,850 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $56.94, for a total transaction of $105,339.00. Following the completion of the sale, the chief financial officer now owns 23,210 shares in the company, valued at $1,321,577.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randy Roach sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $56.90, for a total value of $28,450.00. Following the sale, the director now owns 8,399 shares of the company’s stock, valued at approximately $477,903.10. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
AMERISAFE, Inc. (NASDAQ:AMSF) opened at 59.50 on Friday. AMERISAFE, Inc. has a one year low of $51.20 and a one year high of $69.40. The firm has a market cap of $1.14 billion, a P/E ratio of 17.35 and a beta of 0.88. The company has a 50-day moving average of $56.47 and a 200 day moving average of $57.02.
AMERISAFE (NASDAQ:AMSF) last released its quarterly earnings results on Thursday, July 27th. The insurance provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. AMERISAFE had a return on equity of 14.04% and a net margin of 17.17%. The business had revenue of $89.93 million during the quarter, compared to analysts’ expectations of $92.33 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. Equities research analysts expect that AMERISAFE, Inc. will post $3.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Thursday, September 7th. AMERISAFE’s dividend payout ratio (DPR) is presently 23.32%.
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AMERISAFE Company Profile
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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