Amerisafe (AMSF) Downgraded by BidaskClub to Hold

BidaskClub downgraded shares of Amerisafe (NASDAQ:AMSF) from a buy rating to a hold rating in a research note released on Tuesday.

Several other analysts have also recently commented on the stock. Boenning Scattergood reissued a hold rating on shares of Amerisafe in a research note on Thursday, October 25th. Zacks Investment Research raised shares of Amerisafe from a hold rating to a buy rating and set a $71.00 price target on the stock in a research note on Wednesday, October 10th. Keefe, Bruyette & Woods set a $61.00 price target on shares of Amerisafe and gave the company a hold rating in a research note on Thursday, August 2nd. JMP Securities increased their price target on shares of Amerisafe from $65.00 to $67.00 and gave the company a market outperform rating in a research note on Thursday, August 2nd. Finally, ValuEngine raised shares of Amerisafe from a hold rating to a buy rating in a research note on Friday, July 20th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $66.33.

AMSF opened at $65.20 on Tuesday. Amerisafe has a one year low of $52.00 and a one year high of $67.96. The company has a market cap of $1.24 billion, a PE ratio of 21.17 and a beta of 0.52.

Amerisafe (NASDAQ:AMSF) last released its quarterly earnings results on Wednesday, October 24th. The insurance provider reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.26. Amerisafe had a net margin of 14.15% and a return on equity of 15.21%. The business had revenue of $93.28 million for the quarter, compared to analysts’ expectations of $94.39 million. On average, analysts anticipate that Amerisafe will post 3.62 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.35%. Amerisafe’s payout ratio is presently 28.57%.

In other Amerisafe news, Director Randy Roach sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $63.50, for a total value of $50,800.00. Following the transaction, the director now directly owns 8,422 shares of the company’s stock, valued at $534,797. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Neal Andrew Fuller sold 2,291 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $63.61, for a total transaction of $145,730.51. Following the completion of the transaction, the chief financial officer now directly owns 20,919 shares in the company, valued at $1,330,657.59. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in AMSF. Itau Unibanco Holding S.A. bought a new position in Amerisafe in the second quarter valued at approximately $192,000. Hartford Investment Management Co. bought a new position in Amerisafe in the second quarter valued at approximately $209,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Amerisafe in the second quarter valued at approximately $235,000. Xact Kapitalforvaltning AB bought a new position in shares of Amerisafe during the first quarter worth $296,000. Finally, Engineers Gate Manager LP bought a new position in shares of Amerisafe during the second quarter worth $403,000.

Amerisafe Company Profile

AMERISAFE, Inc, an insurance holding company, provides workers' compensation insurance in the United States. Its workers' compensation insurance policies provide benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. The company serves small to mid-sized employers involved in construction, trucking, logging and lumber, manufacturing, agriculture, maritime, oil and gas, and other industries through agencies.

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