AMERISAFE, Inc. (NASDAQ:AMSF) – FBR & Co dropped their Q2 2017 EPS estimates for AMERISAFE in a report released on Friday. FBR & Co analyst R. Binner now forecasts that the insurance provider will earn $0.75 per share for the quarter, down from their prior forecast of $0.82. FBR & Co currently has a “Outperform” rating and a $64.00 target price on the stock.
Several other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of AMERISAFE from a “sell” rating to a “hold” rating in a research note on Wednesday, March 22nd. BidaskClub raised shares of AMERISAFE from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th.
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AMERISAFE (NASDAQ AMSF) opened at 57.55 on Monday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 16.53 and a beta of 0.82. AMERISAFE has a 12 month low of $51.20 and a 12 month high of $69.40. The company’s 50-day moving average price is $53.93 and its 200 day moving average price is $61.34.
AMERISAFE (NASDAQ:AMSF) last announced its earnings results on Wednesday, April 26th. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by $0.19. The company had revenue of $97.72 million for the quarter, compared to the consensus estimate of $97.61 million. AMERISAFE had a return on equity of 14.05% and a net margin of 17.13%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.39%. The ex-dividend date is Wednesday, June 7th. AMERISAFE’s dividend payout ratio is presently 22.92%.
In other news, Director Philip A. Garcia acquired 1,554 shares of the stock in a transaction dated Wednesday, May 31st. The stock was purchased at an average cost of $51.54 per share, with a total value of $80,093.16. Following the completion of the purchase, the director now owns 9,558 shares in the company, valued at approximately $492,619.32. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Millard E. Morris acquired 2,000 shares of the stock in a transaction dated Friday, May 26th. The shares were purchased at an average cost of $52.15 per share, with a total value of $104,300.00. Following the completion of the purchase, the director now owns 10,336 shares of the company’s stock, valued at approximately $539,022.40. The disclosure for this purchase can be found here. Insiders acquired 6,054 shares of company stock valued at $311,443 over the last three months. 2.60% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in shares of AMERISAFE during the fourth quarter valued at approximately $2,286,000. Comerica Bank increased its position in shares of AMERISAFE by 5.7% in the fourth quarter. Comerica Bank now owns 20,528 shares of the insurance provider’s stock valued at $1,324,000 after buying an additional 1,116 shares during the period. State Street Corp increased its position in shares of AMERISAFE by 7.4% in the fourth quarter. State Street Corp now owns 449,561 shares of the insurance provider’s stock valued at $28,029,000 after buying an additional 30,954 shares during the period. Dimensional Fund Advisors LP increased its position in shares of AMERISAFE by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 929,994 shares of the insurance provider’s stock valued at $57,986,000 after buying an additional 10,086 shares during the period. Finally, Martingale Asset Management L P increased its position in shares of AMERISAFE by 6.8% in the fourth quarter. Martingale Asset Management L P now owns 60,905 shares of the insurance provider’s stock valued at $3,798,000 after buying an additional 3,900 shares during the period. 98.59% of the stock is owned by hedge funds and other institutional investors.
Amerisafe, Inc is an insurance holding company. The Company is engaged in providing workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, and agriculture. It is engaged in underwriting the workers’ compensation exposures inherent in these industries.
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