AMERISAFE (NASDAQ:AMSF) Hits New 52-Week Low - What's Next?

Key Points

• AMERISAFE's stock has reached a new 52-week low at $40.38, down from a previous close of $40.90, amidst a trading volume of 12,188 shares.
• Wall Street analysts have given AMERISAFE an average rating of "Hold" with a target price of $57.50, despite recent downward adjustments in price objectives from some analysts.
• The company recently declared a quarterly dividend of $0.39 per share, yielding 3.8% annually, with a payout ratio of 59.09%.

AMERISAFE, Inc. (NASDAQ:AMSF - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $40.38 and last traded at $40.46, with a volume of 12188 shares. The stock had previously closed at $40.90.

Wall Street Analysts Forecast Growth

AMSF has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of AMERISAFE from $54.00 to $50.00 and set a "hold" rating for the company in a report on Monday, July 28th. Wall Street Zen upgraded shares of AMERISAFE from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of AMERISAFE in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $57.50.

AMERISAFE Stock Down 0.8%

The company's fifty day moving average price is $44.63 and its 200-day moving average price is $45.89. The stock has a market capitalization of $770.14 million, a PE ratio of 15.37 and a beta of 0.32.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last released its earnings results on Thursday, July 24th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). AMERISAFE had a net margin of 16.46% and a return on equity of 16.54%. The business had revenue of $79.70 million for the quarter, compared to analysts' expectations of $77.30 million. Equities research analysts anticipate that AMERISAFE, Inc. will post 2.45 earnings per share for the current year.

AMERISAFE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, September 12th. AMERISAFE's payout ratio is presently 59.09%.

Insiders Place Their Bets

In related news, CFO Anastasios Omiridis sold 1,343 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.75, for a total value of $60,099.25. Following the completion of the transaction, the chief financial officer directly owned 2,253 shares in the company, valued at $100,821.75. The trade was a 37.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AMERISAFE

A number of hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in AMERISAFE in the 1st quarter worth approximately $509,000. Mirae Asset Global Investments Co. Ltd. grew its position in AMERISAFE by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,524 shares of the insurance provider's stock worth $818,000 after purchasing an additional 1,731 shares during the period. Russell Investments Group Ltd. grew its position in AMERISAFE by 45.5% in the 1st quarter. Russell Investments Group Ltd. now owns 69,169 shares of the insurance provider's stock worth $3,635,000 after purchasing an additional 21,628 shares during the period. Charles Schwab Investment Management Inc. grew its position in AMERISAFE by 9.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 723,562 shares of the insurance provider's stock worth $38,023,000 after purchasing an additional 61,767 shares during the period. Finally, GAMMA Investing LLC grew its position in AMERISAFE by 19.1% in the 1st quarter. GAMMA Investing LLC now owns 1,600 shares of the insurance provider's stock worth $84,000 after purchasing an additional 257 shares during the period. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

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.

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