AMERISAFE (NASDAQ:AMSF) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of AMERISAFE (NASDAQ:AMSF) from a hold rating to a sell rating in a research note published on Sunday,Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on AMSF. Zacks Research cut shares of AMERISAFE from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 4th. Truist Financial lowered their price objective on shares of AMERISAFE from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, October 30th. Morgan Stanley set a $40.00 price objective on AMERISAFE in a research note on Monday, October 12th. Citizens Jmp reduced their target price on AMERISAFE from $40.00 to $35.00 and set a “market outperform” rating on the stock in a report on Thursday, October 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of AMERISAFE in a report on Monday, October 26th. 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. Based on data from MarketBeat.com, AMERISAFE has a consensus rating of “Hold” and a consensus price target of $33.33.

AMERISAFE Stock Performance

Shares of AMSF opened at $19.59 on Friday. AMERISAFE has a 1 year low of $19.39 and a 1 year high of $42.10. The stock has a market cap of $363.00 million, a P/E ratio of 9.11 and a beta of 0.23. The stock’s 50-day moving average price is $24.31 and its two-hundred day moving average price is $30.54.

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

AMERISAFE Dividend Announcement

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

Institutional Investors Weigh In On AMERISAFE

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in shares of AMERISAFE in the 2nd quarter valued at about $1,344,000. Bank of America Corp DE raised its holdings in AMERISAFE by 6.7% during the first quarter. Bank of America Corp DE now owns 623,697 shares of the insurance provider’s stock worth $20,788,000 after acquiring an additional 39,168 shares in the last quarter. Legal & General Group Plc bought a new stake in AMERISAFE during the second quarter worth about $1,539,000. Bank of New York Mellon Corp acquired a new position in AMERISAFE during the second quarter valued at approximately $3,583,000. Finally, Palisade Capital Management LP acquired a new position in AMERISAFE during the second quarter valued at approximately $3,145,000. 97.41% of the stock is owned by institutional investors.

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.