R Squared Ltd Raises Stake in AMERISAFE, Inc. $AMSF

R Squared Ltd boosted its stake in AMERISAFE, Inc. (NASDAQ:AMSF) by 75.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,262 shares of the insurance provider’s stock after acquiring an additional 3,566 shares during the quarter. R Squared Ltd’s holdings in AMERISAFE were worth $361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Values First Advisors Inc. boosted its holdings in AMERISAFE by 46.7% in the 2nd quarter. Values First Advisors Inc. now owns 7,867 shares of the insurance provider’s stock worth $344,000 after acquiring an additional 2,503 shares during the period. Harbor Asset Planning Inc. purchased a new position in AMERISAFE in the 2nd quarter worth approximately $113,000. Inspire Investing LLC boosted its holdings in AMERISAFE by 35.7% in the 2nd quarter. Inspire Investing LLC now owns 8,914 shares of the insurance provider’s stock worth $390,000 after acquiring an additional 2,347 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in AMERISAFE by 9.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 16,700 shares of the insurance provider’s stock worth $730,000 after acquiring an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in AMERISAFE by 11.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,324 shares of the insurance provider’s stock worth $758,000 after acquiring an additional 1,800 shares during the period. Hedge funds and other institutional investors own 97.41% of the company’s stock.

AMERISAFE Trading Down 1.1%

AMERISAFE stock opened at $41.45 on Friday. The stock has a market cap of $787.18 million, a P/E ratio of 15.70 and a beta of 0.32. The stock has a 50 day moving average of $43.90 and a 200-day moving average of $45.29. AMERISAFE, Inc. has a 52 week low of $40.03 and a 52 week high of $60.24.

AMERISAFE (NASDAQ:AMSF) last released its earnings results on Thursday, July 24th. The insurance provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $79.70 million for the quarter, compared to analysts’ expectations of $77.30 million. AMERISAFE had a net margin of 16.46% and a return on equity of 16.54%. As a group, equities analysts predict that AMERISAFE, Inc. will post 2.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMSF has been the subject of a number of analyst reports. JMP Securities decreased their price target on AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating for the company in a report on Tuesday, October 14th. Truist Financial decreased their price target on AMERISAFE from $54.00 to $50.00 and set a “hold” rating for the company in a report on Monday, July 28th. Wall Street Zen upgraded AMERISAFE from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AMERISAFE in a research note on Friday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AMERISAFE presently has an average rating of “Hold” and a consensus price target of $55.00.

Insider Activity

In related 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 sale, the chief financial officer directly owned 2,253 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 1.61% of the company’s stock.

AMERISAFE Company 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.