AMERISAFE (NASDAQ:AMSF) Price Target Cut to $40.00 by Analysts at Citizens Jmp

Key Points

• Citizens JMP lowered AMERISAFE’s price target to $40 from $42 while maintaining a “market outperform” rating, implying approximately 63.9% upside from the stock’s $24.41 price.
• Analyst sentiment is mixed: AMERISAFE has a consensus “Hold” rating and an average price target of $37.33, with recent target adjustments and rating upgrades from several firms.
• The company’s latest quarterly results were mixed, with revenue of $91.97 million exceeding estimates but earnings per share of $0.44 falling short of the $0.52 consensus; institutional investors own 97.41% of the stock.

AMERISAFE (NASDAQ:AMSF - Get Free Report) had its price target decreased by investment analysts at Citizens Jmp from $42.00 to $40.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "market outperform" rating on the insurance provider's stock. Citizens Jmp's target price would suggest a potential upside of 63.87% from the company's current price.

Several other equities research analysts also recently commented on AMSF. Wall Street Zen upgraded AMERISAFE from a "sell" rating to a "hold" rating in a report on Monday. Morgan Stanley set a $40.00 target price on AMERISAFE in a research report on Monday. Zacks Research upgraded AMERISAFE from a "strong sell" rating to a "hold" rating in a report on Monday, September 28th. Citigroup reissued a "market outperform" rating on shares of AMERISAFE in a research report on Monday. Finally, Truist Financial reduced their price target on shares of AMERISAFE from $34.00 to $32.00 and set a "hold" rating for the company in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.33.

AMERISAFE Price Performance

Shares of AMERISAFE stock opened at $24.41 on Monday. AMERISAFE has a one year low of $23.20 and a one year high of $42.22. The firm has a market capitalization of $452.56 million, a price-to-earnings ratio of 9.84 and a beta of 0.24. The business has a 50-day simple moving average of $25.78 and a 200 day simple moving average of $29.87.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The insurance provider reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.08). AMERISAFE had a return on equity of 14.87% and a net margin of 14.00%. The firm had revenue of $91.97 million for the quarter, compared to analyst estimates of $85.09 million. On average, sell-side analysts expect that AMERISAFE will post 1.97 EPS for the current year.

Hedge Funds Weigh In On AMERISAFE

A number of hedge funds have recently added to or reduced their stakes in the stock. Auto Owners Insurance Co boosted its holdings in AMERISAFE by 3,741.0% during the 4th quarter. Auto Owners Insurance Co now owns 16,397,229 shares of the insurance provider's stock worth $62,982,000 after acquiring an additional 15,970,329 shares during the last quarter. BlackRock Inc. bought a new stake in shares of AMERISAFE in the 2nd quarter worth $122,167,000. Bank of America Corp DE grew its stake in shares of AMERISAFE by 6.7% in the 1st quarter. Bank of America Corp DE now owns 623,697 shares of the insurance provider's stock worth $20,788,000 after acquiring an additional 39,168 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of AMERISAFE by 19.3% in the 1st quarter. Renaissance Technologies LLC now owns 261,375 shares of the insurance provider's stock worth $8,712,000 after acquiring an additional 42,375 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of AMERISAFE by 125.0% in the first quarter. Sei Investments Co. now owns 138,584 shares of the insurance provider's stock valued at $4,619,000 after purchasing an additional 76,989 shares during the last quarter. Institutional investors and hedge funds own 97.41% of the company's stock.

About AMERISAFE

AMERISAFE, Inc NASDAQ: AMSF is a specialty workers' compensation insurance company serving small and midsize employers in industries with elevated workplace risks. The company provides coverage designed to help businesses manage the costs associated with work-related injuries and occupational illnesses.

Its primary markets include construction, trucking, logging, agriculture, maritime operations, oil and gas, and other hazardous industries. In addition to insurance coverage, AMERISAFE emphasizes workplace safety, risk management, claims handling and return-to-work support to help policyholders reduce accidents and manage employee injuries.

Headquartered in DeRidder, Louisiana, AMERISAFE has historically focused on selected U.S.

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