AMERISAFE (NASDAQ:AMSF) Stock Price Up 5% - Here's Why

Key Points

• AMERISAFE's stock increased by 5%, trading at $45.74 after reaching a high of $46.72, with a significant decline in trading volume.
• JMP Securities has maintained a "market outperform" rating for AMERISAFE, setting a price target of $65.00 per share.
• The company's recent earnings report showed a miss on EPS estimates, with actual earnings at $0.53 against a forecast of $0.55, although revenue exceeded expectations.
• AMERISAFE has a dividend yield of 3.42% with an annualized dividend of $1.56, and a payout ratio of 62.90%.

AMERISAFE, Inc. (NASDAQ:AMSF - Get Free Report) shares were up 5% during trading on Friday . The stock traded as high as $46.72 and last traded at $45.74. Approximately 15,433 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 102,891 shares. The stock had previously closed at $43.58.

Analyst Ratings Changes

Several research analysts have recently commented on AMSF shares. JMP Securities reiterated a "market outperform" rating and issued a $65.00 target price on shares of AMERISAFE in a research report on Wednesday, April 30th. Wall Street Zen upgraded AMERISAFE from a "sell" rating to a "hold" rating in a research report on Saturday.

AMERISAFE Trading Up 6.1%

The business has a 50-day moving average price of $44.99 and a two-hundred day moving average price of $48.20. The firm has a market capitalization of $880.68 million, a price-to-earnings ratio of 17.51 and a beta of 0.40.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). The company had revenue of $79.70 million for the quarter, compared to analyst estimates of $77.30 million. AMERISAFE had a return on equity of 16.36% and a net margin of 16.46%. On average, equities research analysts predict that AMERISAFE, Inc. will post 2.45 earnings per share for the current fiscal year.

AMERISAFE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.56 annualized dividend and a dividend yield of 3.37%. AMERISAFE's dividend payout ratio is presently 62.90%.

Hedge Funds Weigh In On AMERISAFE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMSF. Corient Private Wealth LLC bought a new position in AMERISAFE in the 4th quarter worth approximately $207,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in AMERISAFE in the 4th quarter worth approximately $210,000. American Century Companies Inc. grew its holdings in AMERISAFE by 5.1% in the 4th quarter. American Century Companies Inc. now owns 76,077 shares of the insurance provider's stock worth $3,921,000 after buying an additional 3,683 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in AMERISAFE in the 4th quarter worth approximately $180,000. Finally, Vanguard Group Inc. grew its holdings in AMERISAFE by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 1,393,807 shares of the insurance provider's stock worth $71,837,000 after buying an additional 50,441 shares in the last quarter. 97.41% of the stock is owned by institutional investors.

About AMERISAFE

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.