AMERISAFE, Inc. (NASDAQ:AMSF) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in AMERISAFE, Inc. (NASDAQ:AMSF) by 6.0% in the third quarter, Holdings Channel reports. The firm owned 40,210 shares of the insurance provider’s stock after selling 2,584 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AMERISAFE were worth $1,943,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AMSF. Kathleen S. Wright Associates Inc. acquired a new position in AMERISAFE in the third quarter valued at approximately $28,000. Quarry LP boosted its stake in AMERISAFE by 1,028.4% in the second quarter. Quarry LP now owns 756 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 689 shares during the period. GAMMA Investing LLC boosted its stake in AMERISAFE by 97.1% in the third quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 405 shares during the period. EntryPoint Capital LLC boosted its stake in AMERISAFE by 22.0% in the first quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider’s stock valued at $104,000 after acquiring an additional 376 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in AMERISAFE in the second quarter valued at approximately $100,000. 97.41% of the stock is currently owned by institutional investors and hedge funds.

AMERISAFE Trading Down 0.0 %

Shares of NASDAQ AMSF opened at $58.28 on Monday. The stock has a 50 day simple moving average of $51.62 and a 200-day simple moving average of $47.99. The company has a market cap of $1.11 billion, a PE ratio of 18.21 and a beta of 0.33. AMERISAFE, Inc. has a 12-month low of $41.97 and a 12-month high of $60.24.

AMERISAFE (NASDAQ:AMSF) last announced its 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. AMERISAFE had a return on equity of 16.50% and a net margin of 19.49%. The firm had revenue of $78.70 million for the quarter, compared to analysts’ expectations of $75.38 million. During the same quarter in the previous year, the company earned $0.61 earnings per share. Sell-side analysts forecast that AMERISAFE, Inc. will post 2.45 earnings per share for the current fiscal year.

AMERISAFE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 dividend yield of 23.13%. This is a boost from AMERISAFE’s previous quarterly dividend of $0.37. AMERISAFE’s dividend payout ratio is currently 46.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com upgraded AMERISAFE from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Truist Financial boosted their price objective on AMERISAFE from $48.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, JMP Securities reiterated a “market outperform” rating and set a $65.00 price objective on shares of AMERISAFE in a research report on Tuesday, October 15th.

AMERISAFE 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.