AMERISAFE (NASDAQ:AMSF) Announces Quarterly Earnings Results

Key Points

• AMERISAFE reported quarterly earnings of $0.53 per share, falling short of the expected $0.55, while revenues surged to $79.70 million, exceeding estimates of $77.30 million.
• The company announced a quarterly dividend of $0.39 per share, translating to an annualized dividend of $1.56 and a yield of 3.37%.
• Institutional investors hold 97.41% of AMERISAFE's stock, with firms like Goldman Sachs and Jane Street Group significantly increasing their stakes during the first quarter.

AMERISAFE (NASDAQ:AMSF - Get Free Report) announced its earnings results on Thursday. The insurance provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02), Zacks reports. The firm had revenue of $79.70 million during the quarter, compared to analyst estimates of $77.30 million. AMERISAFE had a net margin of 16.46% and a return on equity of 16.36%.

AMERISAFE Trading Up 6.1%

Shares of NASDAQ:AMSF traded up $2.65 on Friday, hitting $46.23. 226,724 shares of the company were exchanged, compared to its average volume of 127,602. AMERISAFE has a 1-year low of $42.48 and a 1-year high of $60.24. The stock's 50 day moving average price is $44.99 and its 200 day moving average price is $48.21. The firm has a market capitalization of $880.68 million, a P/E ratio of 17.51 and a beta of 0.40.

AMERISAFE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, September 12th. This represents a $1.56 annualized dividend and a dividend yield of 3.37%. AMERISAFE's payout ratio is currently 62.90%.

Analysts Set New Price Targets

AMSF has been the subject of several research reports. JMP Securities reiterated a "market outperform" rating and set a $65.00 price objective on shares of AMERISAFE in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of AMERISAFE from a "sell" rating to a "hold" rating in a research note on Saturday.

Institutional Investors Weigh In On AMERISAFE

Several institutional investors and hedge funds have recently made changes to their positions in AMSF. AQR Capital Management LLC lifted its position in AMERISAFE by 5.1% during the first quarter. AQR Capital Management LLC now owns 83,478 shares of the insurance provider's stock valued at $4,387,000 after purchasing an additional 4,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AMERISAFE by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,313 shares of the insurance provider's stock valued at $594,000 after purchasing an additional 471 shares during the period. Goldman Sachs Group Inc. lifted its position in AMERISAFE by 82.6% during the first quarter. Goldman Sachs Group Inc. now owns 217,280 shares of the insurance provider's stock valued at $11,418,000 after purchasing an additional 98,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in AMERISAFE by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,118 shares of the insurance provider's stock valued at $2,266,000 after purchasing an additional 3,435 shares during the period. Finally, Jane Street Group LLC lifted its position in AMERISAFE by 106.8% during the first quarter. Jane Street Group LLC now owns 29,176 shares of the insurance provider's stock valued at $1,533,000 after purchasing an additional 15,070 shares during the period. 97.41% of the stock is currently owned by institutional investors and hedge funds.

About AMERISAFE

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.

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