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 equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

Several other research firms also recently issued reports on AMSF. JMP Securities restated a "market outperform" rating and issued a $65.00 price objective on shares of AMERISAFE in a research note on Wednesday, April 30th. Truist Financial reduced their target price 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. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.

AMERISAFE Stock Performance

NASDAQ AMSF traded up $0.25 during trading hours on Friday, hitting $46.22. The company had a trading volume of 63,414 shares, compared to its average volume of 116,518. AMERISAFE has a 1-year low of $42.48 and a 1-year high of $60.24. The company has a market cap of $877.76 million, a PE ratio of 17.51 and a beta of 0.39. The business has a 50 day moving average of $44.53 and a 200-day moving average of $47.53.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last released its quarterly earnings data 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 company had revenue of $79.70 million during the quarter, compared to analyst estimates of $77.30 million. Sell-side analysts expect that AMERISAFE will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at AMERISAFE

In other AMERISAFE news, CFO Anastasios Omiridis sold 1,343 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $100,821.75. This trade represents a 37.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.61% of the company's stock.

Institutional Trading of AMERISAFE

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of AMERISAFE in the first quarter valued at approximately $509,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of AMERISAFE by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,524 shares of the insurance provider's stock valued at $818,000 after purchasing an additional 1,731 shares during the last quarter. Deutsche Bank AG grew its position in shares of AMERISAFE by 52.0% in the fourth quarter. Deutsche Bank AG now owns 18,610 shares of the insurance provider's stock valued at $959,000 after purchasing an additional 6,366 shares during the last quarter. Nuveen Asset Management LLC boosted its position in AMERISAFE by 92.1% during the fourth quarter. Nuveen Asset Management LLC now owns 161,815 shares of the insurance provider's stock worth $8,340,000 after acquiring an additional 77,582 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in AMERISAFE by 7.8% during the fourth quarter. Ameriprise Financial Inc. now owns 102,843 shares of the insurance provider's stock worth $5,301,000 after acquiring an additional 7,399 shares during the last quarter. 97.41% of the stock is currently owned by institutional investors and hedge funds.

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.