AMERISAFE (NASDAQ:AMSF) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of AMERISAFE (NASDAQ:AMSF) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks reports.

Other analysts have also issued research reports about the company. Truist Financial cut their price objective on AMERISAFE from $27.00 to $25.00 and set a “hold” rating for the company in a report on Friday, October 30th. Morgan Stanley set a $40.00 target price on AMERISAFE in a research note on Monday, October 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of AMERISAFE in a report on Monday, October 26th. Citigroup reissued a “market outperform” rating on shares of AMERISAFE in a report on Monday, October 12th. Finally, Wall Street Zen raised shares of AMERISAFE from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, AMERISAFE has a consensus rating of “Hold” and an average price target of $33.33.

AMERISAFE Trading Down 3.6%

NASDAQ AMSF opened at $19.59 on Wednesday. AMERISAFE has a 1 year low of $19.39 and a 1 year high of $42.10. The firm has a market capitalization of $363.00 million, a price-to-earnings ratio of 9.11 and a beta of 0.23. The firm’s 50 day simple moving average is $24.31 and its 200 day simple moving average is $30.54.

AMERISAFE (NASDAQ:AMSF) last issued its earnings results on Wednesday, October 28th. The insurance provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). The business had revenue of $79.81 million during the quarter, compared to the consensus estimate of $84.72 million. AMERISAFE had a return on equity of 14.15% and a net margin of 12.10%. On average, equities research analysts forecast that AMERISAFE will post 1.88 earnings per share for the current year.

AMERISAFE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, December 4th will be given a $0.41 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.64 annualized dividend and a dividend yield of 8.4%. AMERISAFE’s payout ratio is 76.28%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AMSF. BlackRock Inc. bought a new stake in AMERISAFE during the 2nd quarter valued at $122,167,000. Bank of America Corp DE increased its position in shares of AMERISAFE by 6.7% in the 1st quarter. Bank of America Corp DE now owns 623,697 shares of the insurance provider’s stock worth $20,788,000 after purchasing an additional 39,168 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of AMERISAFE by 19.3% during the 1st quarter. Renaissance Technologies LLC now owns 261,375 shares of the insurance provider’s stock worth $8,712,000 after acquiring an additional 42,375 shares in the last quarter. Sei Investments Co. grew its holdings in AMERISAFE by 125.0% during the first quarter. Sei Investments Co. now owns 138,584 shares of the insurance provider’s stock valued at $4,619,000 after purchasing an additional 76,989 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of AMERISAFE during the second quarter worth $3,583,000. Institutional investors own 97.41% of the company’s stock.

About AMERISAFE

AMERISAFE, Inc is a specialty workers’ compensation insurance company serving small and midsized businesses. The company focuses on employers in industries with elevated workplace risks, including construction, trucking, logging, agriculture, manufacturing, and maritime operations.

Through its insurance subsidiaries, AMERISAFE provides workers’ compensation coverage designed to protect businesses from costs associated with workplace injuries and occupational illnesses. Its services also include workplace safety and loss-control support, claims management, medical cost containment, and premium audit services.

Headquartered in DeRidder, Louisiana, AMERISAFE primarily serves employers in the southeastern and south-central United States.