AMERISAFE (NASDAQ:AMSF) Receives Hold (C) Rating from Weiss Ratings

Key Points

• AMERISAFE's stock received a "hold (C)" rating from Weiss Ratings, indicating a cautious outlook from analysts.
• Truist Financial lowered its price target for AMERISAFE from $54.00 to $50.00, while JMP Securities also reduced their target from $65.00 to $60.00, maintaining their rating of "market outperform."
• Insider trading activity included CFO Anastasios Omiridis selling 1,343 shares of AMERISAFE, reflecting a 37.35% decrease in his holdings.

AMERISAFE (NASDAQ:AMSF - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by stock analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other brokerages have also recently issued reports on AMSF. Truist Financial dropped their price objective on AMERISAFE from $54.00 to $50.00 and set a "hold" rating on the stock in a research note 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, JMP Securities reduced their price target on shares of AMERISAFE from $65.00 to $60.00 and set a "market outperform" rating for the company in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AMERISAFE has a consensus rating of "Hold" and an average target price of $55.00.

AMERISAFE Price Performance

Shares of AMSF traded down $0.50 during mid-day trading on Friday, reaching $41.42. 44,788 shares of the company's stock traded hands, compared to its average volume of 108,656. The stock's 50-day moving average is $43.97 and its two-hundred day moving average is $45.34. AMERISAFE has a 12 month low of $40.03 and a 12 month high of $60.24. The stock has a market cap of $786.47 million, a P/E ratio of 15.71 and a beta of 0.32.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.46% and a return on equity of 16.54%. Research analysts predict that AMERISAFE will post 2.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Anastasios Omiridis sold 1,343 shares of the business'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 completion of the transaction, the chief financial officer owned 2,253 shares of the company's stock, valued at $100,821.75. The trade was a 37.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.61% of the company's stock.

Institutional Investors Weigh In On AMERISAFE

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its position in AMERISAFE by 19.1% in the first quarter. GAMMA Investing LLC now owns 1,600 shares of the insurance provider's stock worth $84,000 after acquiring an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 buying an additional 1,731 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in AMERISAFE during the first quarter worth approximately $509,000. Principal Financial Group Inc. grew its position in shares of AMERISAFE by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 94,924 shares of the insurance provider's stock valued at $4,988,000 after buying an additional 2,288 shares during the last quarter. Finally, Alps Advisors Inc. increased its holdings in shares of AMERISAFE by 7.8% in the 1st quarter. Alps Advisors Inc. now owns 106,697 shares of the insurance provider's stock valued at $5,607,000 after acquiring an additional 7,686 shares during the period. 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.

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