AMERISAFE (NASDAQ:AMSF) Price Target Cut to $40.00 by Analysts at Citizens Jmp

AMERISAFE (NASDAQ:AMSF) had its price objective trimmed by Citizens Jmp from $42.00 to $40.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a market outperform rating on the insurance provider’s stock.

AMSF has been the topic of several other reports. Zacks Research upgraded shares of AMERISAFE from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Morgan Stanley set a $40.00 price target on shares of AMERISAFE in a report on Monday. Wall Street Zen upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a report on Monday. Weiss Ratings cut shares of AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, Truist Financial dropped their price objective on shares of AMERISAFE from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AMERISAFE presently has an average rating of “Hold” and a consensus price target of $37.33.

AMERISAFE Trading Up 2.3%

AMSF opened at $24.96 on Monday. AMERISAFE has a 12-month low of $23.20 and a 12-month high of $42.22. The business’s fifty day simple moving average is $25.67 and its 200-day simple moving average is $29.81. The company has a market capitalization of $462.76 million, a price-to-earnings ratio of 10.06 and a beta of 0.24.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings results on Tuesday, July 21st. The insurance provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.08). The firm had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $85.09 million. AMERISAFE had a net margin of 14.00% and a return on equity of 14.87%. On average, equities research analysts predict that AMERISAFE will post 1.97 EPS for the current year.

AMERISAFE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Friday, September 11th. AMERISAFE’s payout ratio is presently 66.13%.

Institutional Investors Weigh In On AMERISAFE

A number of hedge funds have recently made changes to their positions in AMSF. Diversified Trust Co boosted its position in AMERISAFE by 4.5% during the first quarter. Diversified Trust Co now owns 10,693 shares of the insurance provider’s stock valued at $356,000 after purchasing an additional 460 shares in the last quarter. Global Retirement Partners LLC purchased a new position in AMERISAFE in the second quarter valued at about $26,000. Parallel Advisors LLC raised its holdings in AMERISAFE by 5,714.3% in the first quarter. Parallel Advisors LLC now owns 814 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 800 shares in the last quarter. Allworth Financial LP raised its holdings in AMERISAFE by 317.8% in the second quarter. Allworth Financial LP now owns 1,124 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 855 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in AMERISAFE by 148.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,571 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 938 shares in the last quarter. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

About AMERISAFE

AMERISAFE, Inc (NASDAQ: AMSF) is a specialty workers’ compensation insurance company serving small and midsize employers in industries with elevated workplace risks. The company provides coverage designed to help businesses manage the costs associated with work-related injuries and occupational illnesses.

Its primary markets include construction, trucking, logging, agriculture, maritime operations, oil and gas, and other hazardous industries. In addition to insurance coverage, AMERISAFE emphasizes workplace safety, risk management, claims handling and return-to-work support to help policyholders reduce accidents and manage employee injuries.

Headquartered in DeRidder, Louisiana, AMERISAFE has historically focused on selected U.S.