AMERISAFE (NASDAQ:AMSF) Rating Increased to Hold at Wall Street Zen

Key Points

• AMERISAFE was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• Truist Financial lowered their target price for AMERISAFE from $54.00 to $50.00, while JMP Securities set a more optimistic target of $65.00.
• Despite reporting revenue of $79.70 million for the last quarter, AMERISAFE's earnings per share of $0.53 fell short of analyst expectations by $0.02.

AMERISAFE (NASDAQ:AMSF - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Several other analysts have also commented on the company. Truist Financial decreased their price target on AMERISAFE from $54.00 to $50.00 and set a "hold" rating on the stock in a research note on Monday, July 28th. JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 price target on shares of AMERISAFE in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.

AMERISAFE Stock Up 1.3%

NASDAQ AMSF traded up $0.59 during trading on Friday, hitting $45.75. The company's stock had a trading volume of 56,493 shares, compared to its average volume of 105,168. The firm has a 50 day moving average price of $44.49 and a 200 day moving average price of $47.58. The firm has a market cap of $868.84 million, a P/E ratio of 17.33 and a beta of 0.39. AMERISAFE has a 52 week low of $42.48 and a 52 week high of $60.24.

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

Insider Transactions at AMERISAFE

In related news, CFO Anastasios Omiridis sold 1,343 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $44.75, for a total value of $60,099.25. Following the transaction, the chief financial officer owned 2,253 shares in the company, valued at $100,821.75. This trade represents a 37.35% decrease in their ownership of the stock. The transaction 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 corporate insiders.

Institutional Investors Weigh In On AMERISAFE

Hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its position in shares of AMERISAFE by 170.5% during the second quarter. Signaturefd LLC now owns 779 shares of the insurance provider's stock worth $34,000 after purchasing an additional 491 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of AMERISAFE during the fourth quarter worth about $43,000. PNC Financial Services Group Inc. raised its position in shares of AMERISAFE by 301.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,554 shares of the insurance provider's stock worth $82,000 after purchasing an additional 1,167 shares during the period. GAMMA Investing LLC raised its position in shares of AMERISAFE by 19.1% during the first 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. Finally, Tower Research Capital LLC TRC raised its position in AMERISAFE by 87.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,920 shares of the insurance provider's stock valued at $84,000 after buying an additional 898 shares during the last quarter. Institutional investors and hedge funds own 97.41% of the company's stock.

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.