AMERISAFE, Inc. $AMSF Holdings Reduced by M&G PLC

M&G PLC lowered its holdings in AMERISAFE, Inc. (NASDAQ:AMSF) by 16.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 181,029 shares of the insurance provider’s stock after selling 34,996 shares during the quarter. M&G PLC owned about 0.98% of AMERISAFE worth $4,345,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in AMERISAFE in the 2nd quarter valued at approximately $122,167,000. Bank of America Corp DE acquired a new position in AMERISAFE during the 2nd quarter worth approximately $18,755,000. Bank of New York Mellon Corp acquired a new position in AMERISAFE during the 2nd quarter worth approximately $3,583,000. Palisade Capital Management LP purchased a new position in shares of AMERISAFE during the 2nd quarter worth approximately $3,145,000. Finally, Sei Investments Co. raised its stake in shares of 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 in the last quarter. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

AMERISAFE Trading Up 1.3%

Shares of AMSF opened at $19.89 on Wednesday. The firm’s 50-day moving average is $24.05 and its two-hundred day moving average is $30.36. AMERISAFE, Inc. has a twelve month low of $19.39 and a twelve month high of $42.10. The firm has a market capitalization of $368.62 million, a P/E ratio of 9.25 and a beta of 0.23.

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

AMERISAFE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, December 4th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend is Friday, December 4th. AMERISAFE’s dividend payout ratio (DPR) is presently 76.28%.

Wall Street Analyst Weigh In

AMSF has been the topic of a number of analyst reports. Truist Financial decreased their price target on AMERISAFE from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. Wall Street Zen lowered AMERISAFE from a “hold” rating to a “sell” rating in a report on Sunday. Citigroup reiterated a “market outperform” rating on shares of AMERISAFE in a research report on Monday, October 12th. Morgan Stanley set a $40.00 target price on AMERISAFE in a report on Monday, October 12th. Finally, Zacks Research downgraded AMERISAFE from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 4th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.33.

AMERISAFE Profile

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.