AMERISAFE (NASDAQ:AMSF) Sets New 52-Week Low – What’s Next?

AMERISAFE, Inc. (NASDAQ:AMSF)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $39.07 and last traded at $39.13, with a volume of 206967 shares. The stock had previously closed at $39.23.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMSF shares. Wall Street Zen downgraded AMERISAFE from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c-)” rating on shares of AMERISAFE in a research note on Monday. Citigroup reaffirmed a “market outperform” rating on shares of AMERISAFE in a research report on Thursday, October 30th. Finally, JMP Securities decreased their price objective on AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating for the company in a report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.00.

AMERISAFE Trading Down 0.3%

The business has a fifty day moving average of $41.26 and a 200-day moving average of $43.76. The firm has a market cap of $740.50 million, a PE ratio of 14.99 and a beta of 0.37.

AMERISAFE (NASDAQ:AMSF) last posted its earnings results on Wednesday, October 29th. The insurance provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. AMERISAFE had a return on equity of 16.94% and a net margin of 16.12%.The business had revenue of $71.29 million during the quarter, compared to analyst estimates of $78.29 million. On average, equities analysts forecast that AMERISAFE, Inc. will post 2.45 EPS for the current year.

AMERISAFE Announces Dividend

The company also recently declared a special dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, December 5th will be given a dividend of $1.00 per share. This represents a dividend yield of 394.0%. The ex-dividend date is Friday, December 5th. AMERISAFE’s payout ratio is 59.77%.

Insider Activity

In related news, CFO Anastasios Omiridis sold 1,247 shares of AMERISAFE stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $40.21, for a total transaction of $50,141.87. Following the completion of the sale, the chief financial officer owned 2,539 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Nuveen LLC purchased a new stake in AMERISAFE in the first quarter valued at approximately $8,466,000. Millennium Management LLC increased its holdings in shares of AMERISAFE by 176.3% in the 3rd quarter. Millennium Management LLC now owns 191,825 shares of the insurance provider’s stock worth $8,410,000 after buying an additional 122,387 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of AMERISAFE during the 2nd quarter worth $4,345,000. Goldman Sachs Group Inc. grew its position in AMERISAFE by 82.6% in the first quarter. Goldman Sachs Group Inc. now owns 217,280 shares of the insurance provider’s stock worth $11,418,000 after acquiring an additional 98,293 shares in the last quarter. Finally, Royce & Associates LP increased its stake in AMERISAFE by 21.3% in the third quarter. Royce & Associates LP now owns 555,621 shares of the insurance provider’s stock valued at $24,358,000 after acquiring an additional 97,434 shares during the last quarter. Hedge funds and other institutional investors own 97.41% of the company’s stock.

AMERISAFE Company Profile

AMERISAFE, Inc, an insurance holding company, underwrites workers’ compensation insurance in the United States. The company provides benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. It sells its products through retail and wholesale brokers and agents; and small and mid-sized employers engaged in hazardous industries, including construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime.