AMERISAFE (NASDAQ:AMSF) Stock Gets Price Target Cut from Citizens Jmp

AMERISAFE (NASDAQ:AMSF) had its price objective trimmed by Citizens Jmp from $42.00 to $40.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a market outperform rating on the insurance provider’s stock.

A number of other analysts also recently commented on AMSF. Truist Financial dropped their target price on shares of AMERISAFE from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings lowered shares of AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Citigroup reissued a “market outperform” rating on shares of AMERISAFE in a research note on Monday. Zacks Research upgraded shares of AMERISAFE from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Finally, Wall Street Zen upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a research report on Monday. Two investment 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.67.

AMERISAFE Stock Down 0.0%

Shares of AMSF stock opened at $24.64 on Monday. The stock has a 50-day simple moving average of $25.46 and a 200 day simple moving average of $29.69. The stock has a market capitalization of $456.83 million, a P/E ratio of 12.32 and a beta of 0.24. AMERISAFE has a fifty-two week low of $23.20 and a fifty-two week high of $42.21.

AMERISAFE (NASDAQ:AMSF) last issued 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 return on equity of 14.87% and a net margin of 14.00%. The business had revenue of $91.97 million during the quarter, compared to the consensus estimate of $85.09 million. On average, sell-side analysts anticipate that AMERISAFE will post 1.95 earnings per share for the current year.

AMERISAFE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Friday, September 11th. AMERISAFE’s dividend payout ratio is currently 66.13%.

Hedge Funds Weigh In On AMERISAFE

Institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in AMERISAFE during the 2nd quarter worth approximately $26,000. Parallel Advisors LLC raised its stake in AMERISAFE by 5,714.3% during the 1st quarter. Parallel Advisors LLC now owns 814 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 800 shares during the period. Allworth Financial LP acquired a new stake in AMERISAFE during the 2nd quarter valued at $38,000. Versant Capital Management Inc raised its stake in AMERISAFE by 978.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,650 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 1,497 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of AMERISAFE in the second quarter valued at $49,000. Hedge funds and other institutional investors own 97.41% of the company’s stock.

AMERISAFE Company Profile

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.