92,958 Shares in AMERISAFE, Inc. $AMSF Purchased by Palisade Capital Management LP

Key Points

• Palisade Capital Management acquired 92,958 AMERISAFE shares worth approximately $3.15 million, representing about 0.5% of the company. Institutional investors collectively own 97.41% of AMERISAFE.
• Analyst sentiment has weakened, with several firms downgrading the stock; AMERISAFE has a consensus rating of “Hold” and an average price target of $44.
• AMERISAFE reported quarterly EPS of $0.44, below the $0.52 consensus estimate, despite revenue exceeding expectations. The company declared a quarterly dividend of $0.41, implying a 6.3% annualized yield.

Palisade Capital Management LP acquired a new position in shares of AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 92,958 shares of the insurance provider's stock, valued at approximately $3,145,000. Palisade Capital Management LP owned approximately 0.50% of AMERISAFE as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AMSF. Canada Pension Plan Investment Board bought a new stake in AMERISAFE in the second quarter valued at approximately $244,000. Legal & General Group Plc bought a new position in shares of AMERISAFE during the 2nd quarter worth approximately $1,539,000. Sanctuary Advisors LLC acquired a new position in shares of AMERISAFE during the 2nd quarter worth approximately $261,000. Quantbot Technologies LP acquired a new position in shares of AMERISAFE during the 2nd quarter worth approximately $49,000. Finally, Ieq Capital LLC bought a new stake in AMERISAFE in the 2nd quarter valued at $1,045,000. Institutional investors and hedge funds own 97.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMSF. Truist Financial dropped their price target on AMERISAFE from $34.00 to $32.00 and set a "hold" rating for the company in a report on Thursday, July 23rd. Wall Street Zen raised AMERISAFE from a "strong sell" rating to a "sell" rating in a report on Saturday, May 23rd. Weiss Ratings cut AMERISAFE from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Finally, Zacks Research downgraded AMERISAFE from a "hold" rating to a "strong sell" rating in a report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $44.00.

AMERISAFE Stock Performance

AMERISAFE stock opened at $26.18 on Wednesday. AMERISAFE, Inc. has a 52 week low of $25.65 and a 52 week high of $47.86. The stock has a market capitalization of $485.38 million, a P/E ratio of 10.56 and a beta of 0.24. The stock has a fifty day moving average of $31.03 and a 200-day moving average of $32.35.

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

AMERISAFE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, September 11th. AMERISAFE's dividend payout ratio is presently 66.13%.

AMERISAFE Company Profile

Amerisafe, Inc NASDAQ: AMSF is a specialty provider of workers' compensation insurance products and services in the United States. The company focuses on underwriting and managing workers' compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety.

In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services.

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