AMERISAFE (NASDAQ:AMSF) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of AMERISAFE (NASDAQ:AMSF) from a hold rating to a sell rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

A number of other brokerages have also recently weighed in on AMSF. Truist Financial dropped their price target on shares of AMERISAFE from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, October 30th. Weiss Ratings restated a “sell (d+)” rating on shares of AMERISAFE in a report on Monday, October 26th. Citizens Jmp lowered their price objective on shares of AMERISAFE from $40.00 to $35.00 and set a “market outperform” rating for the company in a research report on Thursday, October 29th. Citigroup reiterated a “market outperform” rating on shares of AMERISAFE in a report on Monday, October 12th. Finally, Morgan Stanley set a $40.00 target price on shares of AMERISAFE in a report on Monday, October 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, AMERISAFE currently has an average rating of “Hold” and a consensus price target of $33.33.

AMERISAFE Trading Up 1.3%

NASDAQ AMSF opened at $19.89 on Friday. The stock has a fifty day simple moving average of $24.05 and a 200-day simple moving average of $30.36. The stock has a market cap of $368.62 million, a PE ratio of 9.25 and a beta of 0.23. AMERISAFE has a twelve month low of $19.39 and a twelve month high of $42.10.

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

AMERISAFE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, December 4th will be issued a $0.41 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.64 dividend on an annualized basis and a yield of 8.2%. AMERISAFE’s dividend payout ratio (DPR) is 76.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new stake in AMERISAFE during the 2nd quarter worth about $26,000. Parallel Advisors LLC boosted its stake in shares of AMERISAFE by 5,714.3% in the 1st quarter. Parallel Advisors LLC now owns 814 shares of the insurance provider’s stock valued at $27,000 after buying an additional 800 shares during the period. Allworth Financial LP purchased a new position in shares of AMERISAFE in the 2nd quarter valued at about $38,000. Versant Capital Management Inc grew its position in shares of AMERISAFE by 978.4% during the third quarter. Versant Capital Management Inc now owns 1,650 shares of the insurance provider’s stock worth $39,000 after buying an additional 1,497 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of AMERISAFE during the second quarter worth about $49,000. 97.41% of the stock is owned by institutional investors and hedge funds.

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.