Zacks Research Downgrades AMERISAFE (NASDAQ:AMSF) to Strong Sell

AMERISAFE (NASDAQ:AMSF) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on AMSF. Truist Financial cut their price objective on AMERISAFE from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Wall Street Zen upgraded AMERISAFE from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings raised AMERISAFE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Finally, Citizens Jmp cut their price target on AMERISAFE from $50.00 to $45.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

AMERISAFE Trading Up 1.8%

Shares of AMSF opened at $30.61 on Monday. AMERISAFE has a 12-month low of $29.42 and a 12-month high of $47.86. The stock has a market cap of $567.51 million, a P/E ratio of 12.34 and a beta of 0.23. The company has a 50-day moving average of $32.28 and a two-hundred day moving average of $33.73.

AMERISAFE (NASDAQ:AMSF) last released its quarterly 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). AMERISAFE had a net margin of 14.00% and a return on equity of 14.87%. The business had revenue of $91.97 million during the quarter, compared to analyst estimates of $85.09 million. As a group, analysts forecast that AMERISAFE will post 2 EPS for the current fiscal year.

Hedge Funds Weigh In On AMERISAFE

A number of institutional investors have recently modified their holdings of AMSF. Auto Owners Insurance Co lifted its stake in shares of AMERISAFE by 3,741.0% during the fourth 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 period. Neuberger Berman Group LLC boosted its position in AMERISAFE by 0.3% during the fourth quarter. Neuberger Berman Group LLC now owns 1,800,952 shares of the insurance provider’s stock worth $69,175,000 after acquiring an additional 6,175 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in AMERISAFE by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 843,539 shares of the insurance provider’s stock worth $32,400,000 after acquiring an additional 41,496 shares during the period. Goldman Sachs Group Inc. grew its stake in AMERISAFE by 55.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 696,095 shares of the insurance provider’s stock worth $26,737,000 after acquiring an additional 248,105 shares during the period. Finally, Bank of America Corp DE grew its stake in AMERISAFE by 8.4% in the 3rd quarter. Bank of America Corp DE now owns 658,682 shares of the insurance provider’s stock worth $28,877,000 after acquiring an additional 50,765 shares during the period. Institutional investors and hedge funds own 97.41% of the company’s stock.

AMERISAFE Company Profile

Amerisafe, Inc (NASDAQ: AMSF) is a specialty provider of workers’ compensation insurance products and services in the United States. The company focuses on underwriting and managing workers’ compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety.

In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services.