AMERISAFE, Inc. $AMSF Stock: New South Capital Management Inc. Decreases Stake

New South Capital Management Inc. reduced its stake in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 43.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,012 shares of the insurance provider’s stock after selling 53,785 shares during the quarter. New South Capital Management Inc. owned approximately 0.38% of AMERISAFE worth $1,678,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMSF. Global Retirement Partners LLC purchased a new position in AMERISAFE in the 2nd quarter worth about $26,000. Parallel Advisors LLC lifted its holdings in AMERISAFE by 5,714.3% during 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 in the last quarter. Allworth Financial LP boosted its position in AMERISAFE by 317.8% in the 2nd quarter. Allworth Financial LP now owns 1,124 shares of the insurance provider’s stock valued at $38,000 after buying an additional 855 shares during the period. PNC Financial Services Group Inc. boosted its position in AMERISAFE by 148.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,571 shares of the insurance provider’s stock valued at $52,000 after buying an additional 938 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in AMERISAFE in the 2nd quarter valued at about $49,000. 97.41% of the stock is currently owned by institutional investors.

AMERISAFE Stock Performance

Shares of NASDAQ AMSF opened at $19.31 on Thursday. AMERISAFE, Inc. has a fifty-two week low of $19.25 and a fifty-two week high of $42.10. The company has a market cap of $357.81 million, a PE ratio of 10.75 and a beta of 0.23. The business has a 50-day simple moving average of $23.92 and a two-hundred day simple moving average of $30.27.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.08). The company 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%. On average, sell-side analysts predict that AMERISAFE, Inc. will post 1.88 earnings per share for the current fiscal year.

AMERISAFE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, December 4th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 8.5%. AMERISAFE’s dividend payout ratio (DPR) is currently 76.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMSF. Weiss Ratings lowered shares of AMERISAFE from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Citizens Jmp lowered their price target on AMERISAFE from $40.00 to $35.00 and set a “market outperform” rating for the company in a report on Thursday, October 29th. Morgan Stanley set a $40.00 price target on AMERISAFE in a report on Monday, October 12th. Zacks Research cut AMERISAFE from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 4th. Finally, Truist Financial reduced their price objective on AMERISAFE from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, October 30th. Two investment 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’s stock. According to MarketBeat, AMERISAFE presently has an average rating of “Hold” and a consensus price target of $33.33.

AMERISAFE Company Profile

AMERISAFE, Inc. is a specialty insurance company focused on workers’ compensation coverage for small and midsize businesses with higher-risk operations. Its customers include employers in industries such as construction, trucking, manufacturing, agriculture, forestry and logging, and maritime. The company offers workers’ compensation policies with different pricing structures, including guaranteed-cost and loss-sensitive options. Its services also include safety and loss-control support and claims management, helping policyholders address workplace risks and employee injuries.