AMERISAFE (NASDAQ:AMSF) Price Target Cut to $55.00 by Analysts at Citizens Jmp

AMERISAFE (NASDAQ:AMSF) had its target price reduced by investment analysts at Citizens Jmp from $60.00 to $55.00 in a report issued on Friday,Benzinga reports. The firm currently has a “market outperform” rating on the insurance provider’s stock. Citizens Jmp’s price target indicates a potential upside of 43.12% from the stock’s current price.

A number of other research analysts have also issued reports on the company. Citigroup reissued a “market outperform” rating on shares of AMERISAFE in a report on Friday. Wall Street Zen cut AMERISAFE from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AMERISAFE in a report on Monday, December 29th. Finally, JMP Securities decreased their price objective on AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.00.

AMERISAFE Price Performance

AMERISAFE stock opened at $38.43 on Friday. The stock has a market cap of $727.10 million, a PE ratio of 14.72 and a beta of 0.36. The stock’s fifty day moving average is $39.25 and its two-hundred day moving average is $42.22. AMERISAFE has a 1-year low of $36.33 and a 1-year high of $53.27.

AMERISAFE (NASDAQ:AMSF) last released its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $71.29 million during the quarter, compared to analysts’ expectations of $78.29 million. AMERISAFE had a return on equity of 16.94% and a net margin of 16.12%. On average, research analysts expect that AMERISAFE will post 2.45 earnings per share for the current fiscal year.

Insider Activity at AMERISAFE

In related news, CFO Anastasios Omiridis sold 1,247 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $40.21, for a total value of $50,141.87. Following the transaction, the chief financial officer owned 2,539 shares in the company, valued at approximately $102,093.19. This trade represents a 32.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Creative Planning boosted its position in shares of AMERISAFE by 96.9% in the second quarter. Creative Planning now owns 39,673 shares of the insurance provider’s stock worth $1,735,000 after buying an additional 19,527 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 valued at $758,000 after buying an additional 1,800 shares in the last quarter. Strs Ohio bought a new stake in shares of AMERISAFE in the 1st quarter valued at approximately $646,000. Geode Capital Management LLC increased its holdings in AMERISAFE by 1.3% in the second quarter. Geode Capital Management LLC now owns 561,956 shares of the insurance provider’s stock worth $24,575,000 after buying an additional 7,420 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in AMERISAFE by 4.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 40,618 shares of the insurance provider’s stock valued at $1,776,000 after acquiring an additional 1,905 shares in the last quarter. Institutional investors and hedge funds own 97.41% of the company’s stock.

About AMERISAFE

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.