AMERISAFE (NASDAQ:AMSF) Stock Rating Lowered by Wall Street Zen

AMERISAFE (NASDAQ:AMSF) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

AMSF has been the subject of a number of other reports. Morgan Stanley set a $40.00 price objective on shares of AMERISAFE in a research report on Monday, October 12th. Zacks Research lowered AMERISAFE from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of AMERISAFE in a research note on Monday, October 26th. Citizens Jmp cut their price target on AMERISAFE from $40.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 29th. Finally, Truist Financial reduced their price target on AMERISAFE from $27.00 to $25.00 and set a “hold” rating for the company in a report on Friday, October 30th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, AMERISAFE presently has an average rating of “Hold” and an average target price of $33.33.

AMERISAFE Stock Up 0.2%

AMSF opened at $19.63 on Friday. The firm’s 50 day moving average is $24.18 and its 200-day moving average is $30.45. AMERISAFE has a 52-week low of $19.39 and a 52-week high of $42.10. The firm has a market capitalization of $363.74 million, a P/E ratio of 10.99 and a beta of 0.23.

AMERISAFE (NASDAQ:AMSF) last announced its earnings results on Wednesday, October 28th. The insurance provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.08). The firm had revenue of $79.81 million during the quarter, compared to analysts’ expectations of $84.72 million. AMERISAFE had a net margin of 12.10% and a return on equity of 14.15%. Equities analysts expect that AMERISAFE will post 1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMERISAFE

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in AMERISAFE in the second quarter valued at approximately $122,167,000. Bank of America Corp DE acquired a new stake in shares of AMERISAFE during the 2nd quarter worth approximately $18,755,000. Bank of New York Mellon Corp acquired a new stake in shares of AMERISAFE during the 2nd quarter worth approximately $3,583,000. Palisade Capital Management LP bought a new stake in shares of AMERISAFE in the 2nd quarter worth approximately $3,145,000. Finally, Sei Investments Co. lifted its holdings in shares of AMERISAFE by 125.0% in the 1st quarter. Sei Investments Co. now owns 138,584 shares of the insurance provider’s stock worth $4,619,000 after purchasing an additional 76,989 shares during the last quarter. Institutional investors and hedge funds own 97.41% of the company’s stock.

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.