AMERISAFE (NASDAQ:AMSF) Price Target Raised to $54.00 at Truist Financial

AMERISAFE (NASDAQ:AMSF) had its price objective increased by Truist Financial from $48.00 to $54.00 in a research report report published on Friday, Benzinga reports. Truist Financial currently has a hold rating on the insurance provider’s stock.

Several other brokerages have also recently issued reports on AMSF. StockNews.com upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. JMP Securities restated a “market outperform” rating and issued a $65.00 target price on shares of AMERISAFE in a report on Tuesday, October 15th.

AMERISAFE Price Performance

Shares of AMSF opened at $54.89 on Friday. The company has a market capitalization of $1.05 billion, a P/E ratio of 17.10 and a beta of 0.34. AMERISAFE has a 1-year low of $41.97 and a 1-year high of $56.46. The firm’s 50 day simple moving average is $49.33 and its 200 day simple moving average is $47.09.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm had revenue of $78.70 million for the quarter, compared to the consensus estimate of $75.38 million. AMERISAFE had a net margin of 18.46% and a return on equity of 16.38%. During the same period last year, the firm posted $0.61 earnings per share. On average, equities analysts anticipate that AMERISAFE will post 2.4 earnings per share for the current year.

AMERISAFE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 6th will be issued a $3.37 dividend. The ex-dividend date is Friday, December 6th. This represents a $13.48 annualized dividend and a yield of 24.56%. This is a boost from AMERISAFE’s previous quarterly dividend of $0.37. AMERISAFE’s payout ratio is 46.11%.

Institutional Trading of AMERISAFE

Several large investors have recently added to or reduced their stakes in AMSF. Diversified Trust Co lifted its position in AMERISAFE by 3.8% during the third quarter. Diversified Trust Co now owns 8,916 shares of the insurance provider’s stock valued at $431,000 after buying an additional 325 shares during the period. EntryPoint Capital LLC lifted its position in AMERISAFE by 22.0% during the first quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider’s stock valued at $104,000 after buying an additional 376 shares during the period. GAMMA Investing LLC lifted its position in AMERISAFE by 97.1% during the third quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock valued at $40,000 after buying an additional 405 shares during the period. Inspire Investing LLC lifted its position in AMERISAFE by 5.7% during the third quarter. Inspire Investing LLC now owns 8,503 shares of the insurance provider’s stock valued at $411,000 after buying an additional 461 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in AMERISAFE during the third quarter valued at $28,000. 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.