AMERISAFE (NASDAQ:AMSF) Stock Gets Price Target Reduction from Truist Financial

AMERISAFE (NASDAQ:AMSF) had its target price lowered by Truist Financial from $32.00 to $27.00 in a research note released on Tuesday morning, Marketbeat reports. The brokerage currently has a hold rating on the insurance provider’s stock.

Other research analysts have also issued reports about the company. Morgan Stanley set a $40.00 price objective on AMERISAFE in a report on Monday. Citigroup reissued a “market outperform” rating on shares of AMERISAFE in a report on Monday. Zacks Research raised shares of AMERISAFE from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Citizens Jmp lowered their price target on shares of AMERISAFE from $42.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Monday. Finally, Weiss Ratings lowered shares of AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AMERISAFE presently has an average rating of “Hold” and a consensus target price of $35.67.

AMERISAFE Stock Up 1.6%

Shares of AMSF stock opened at $25.04 on Tuesday. AMERISAFE has a 12-month low of $23.20 and a 12-month high of $42.21. The company has a market capitalization of $464.24 million, a PE ratio of 12.32 and a beta of 0.24. The firm has a 50 day moving average price of $25.37 and a two-hundred day moving average price of $29.64.

AMERISAFE (NASDAQ:AMSF) last posted its earnings results on Tuesday, July 21st. The insurance provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.08). The firm had revenue of $91.97 million during the quarter, compared to analyst estimates of $85.09 million. AMERISAFE had a net margin of 14.00% and a return on equity of 14.87%. As a group, research analysts expect that AMERISAFE will post 1.95 EPS for the current year.

AMERISAFE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a $0.41 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.64 annualized dividend and a yield of 6.5%. AMERISAFE’s dividend payout ratio (DPR) is currently 66.13%.

Institutional Trading of AMERISAFE

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of AMERISAFE in the second quarter valued at approximately $122,167,000. Auto Owners Insurance Co raised its holdings in AMERISAFE by 3,741.0% in the 4th quarter. Auto Owners Insurance Co now owns 16,397,229 shares of the insurance provider’s stock valued at $62,982,000 after buying an additional 15,970,329 shares during the last quarter. Bank of America Corp DE boosted its position in AMERISAFE by 6.7% during the 1st quarter. Bank of America Corp DE now owns 623,697 shares of the insurance provider’s stock worth $20,788,000 after buying an additional 39,168 shares during the period. Renaissance Technologies LLC boosted its position in 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 buying an additional 42,375 shares during the period. Finally, Sei Investments Co. boosted its position in AMERISAFE by 125.0% during the 1st quarter. Sei Investments Co. now owns 138,584 shares of the insurance provider’s stock worth $4,619,000 after buying an additional 76,989 shares during the period. 97.41% of the stock is owned by institutional investors and hedge funds.

About AMERISAFE

AMERISAFE, Inc (NASDAQ: AMSF) is a specialty workers’ compensation insurance company serving small and midsize employers in industries with elevated workplace risks. The company provides coverage designed to help businesses manage the costs associated with work-related injuries and occupational illnesses.

Its primary markets include construction, trucking, logging, agriculture, maritime operations, oil and gas, and other hazardous industries. In addition to insurance coverage, AMERISAFE emphasizes workplace safety, risk management, claims handling and return-to-work support to help policyholders reduce accidents and manage employee injuries.

Headquartered in DeRidder, Louisiana, AMERISAFE has historically focused on selected U.S.