AMERISAFE (NASDAQ:AMSF) Lowered to “Strong Sell” Rating by Zacks Research

AMERISAFE (NASDAQ:AMSF) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on AMSF. Wall Street Zen upgraded shares of AMERISAFE from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Citizens Jmp dropped their target price on AMERISAFE from $50.00 to $45.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Truist Financial cut their target price on AMERISAFE from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Finally, Weiss Ratings raised AMERISAFE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

AMERISAFE Stock Performance

AMSF stock opened at $30.61 on Monday. AMERISAFE has a one year low of $29.42 and a one year high of $47.86. The stock has a market capitalization of $567.51 million, a PE ratio of 12.34 and a beta of 0.23. The company has a fifty day moving average of $32.28 and a 200-day moving average of $33.73.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings results on Tuesday, July 21st. The insurance provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). AMERISAFE had a return on equity of 14.87% and a net margin of 14.00%.The firm had revenue of $91.97 million for the quarter, compared to analyst estimates of $85.09 million. Equities analysts forecast that AMERISAFE will post 2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Auto Owners Insurance Co boosted its stake in shares of AMERISAFE by 3,741.0% during the 4th quarter. Auto Owners Insurance Co now owns 16,397,229 shares of the insurance provider’s stock worth $62,982,000 after acquiring an additional 15,970,329 shares in the last quarter. Neuberger Berman Group LLC increased its stake in AMERISAFE by 0.3% in the 4th quarter. Neuberger Berman Group LLC now owns 1,800,952 shares of the insurance provider’s stock valued at $69,175,000 after purchasing an additional 6,175 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AMERISAFE by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 843,539 shares of the insurance provider’s stock worth $32,400,000 after purchasing an additional 41,496 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in AMERISAFE by 55.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 696,095 shares of the insurance provider’s stock worth $26,737,000 after purchasing an additional 248,105 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in AMERISAFE by 8.4% during the third quarter. Bank of America Corp DE now owns 658,682 shares of the insurance provider’s stock worth $28,877,000 after purchasing an additional 50,765 shares in the last quarter. 97.41% of the stock is owned by hedge funds and other institutional investors.

AMERISAFE Company Profile

Amerisafe, Inc (NASDAQ: AMSF) is a specialty provider of workers’ compensation insurance products and services in the United States. The company focuses on underwriting and managing workers’ compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety.

In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services.