AMERISAFE (NASDAQ:AMSF) Posts Earnings Results, Misses Expectations By $0.02 EPS

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) released its earnings results on Thursday. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02), Zacks reports. AMERISAFE had a net margin of 16.46% and a return on equity of 16.54%. The company had revenue of $79.70 million during the quarter, compared to analysts' expectations of $77.30 million.

AMERISAFE Price Performance

AMSF traded down $0.85 on Wednesday, reaching $45.13. The company's stock had a trading volume of 115,682 shares, compared to its average volume of 106,041. The stock has a market cap of $857.02 million, a price-to-earnings ratio of 17.09 and a beta of 0.40. AMERISAFE has a 1 year low of $42.48 and a 1 year high of $60.24. The business's 50 day moving average is $44.92 and its 200 day moving average is $48.16.

AMERISAFE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, September 12th. AMERISAFE's dividend payout ratio (DPR) is 59.09%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AMSF. Goldman Sachs Group Inc. lifted its holdings in AMERISAFE by 82.6% in the first quarter. Goldman Sachs Group Inc. now owns 217,280 shares of the insurance provider's stock worth $11,418,000 after acquiring an additional 98,293 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of AMERISAFE by 106.8% in the 1st quarter. Jane Street Group LLC now owns 29,176 shares of the insurance provider's stock worth $1,533,000 after purchasing an additional 15,070 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of AMERISAFE by 5.1% in the 1st quarter. AQR Capital Management LLC now owns 83,478 shares of the insurance provider's stock worth $4,387,000 after purchasing an additional 4,050 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AMERISAFE by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,118 shares of the insurance provider's stock worth $2,266,000 after purchasing an additional 3,435 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of AMERISAFE by 15.2% in the 1st quarter. Intech Investment Management LLC now owns 21,862 shares of the insurance provider's stock worth $1,149,000 after purchasing an additional 2,889 shares during the last quarter. Institutional investors own 97.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMSF shares. Truist Financial lowered their price target on AMERISAFE from $54.00 to $50.00 and set a "hold" rating for the company in a research report on Monday. JMP Securities reiterated a "market outperform" rating and set a $65.00 target price on shares of AMERISAFE in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded AMERISAFE from a "sell" rating to a "hold" rating in a report on Saturday.

AMERISAFE Company 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.