AMERISAFE, Inc. $AMSF Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in AMERISAFE, Inc. by 3.4%, now holding 199,706 shares worth approximately $10.5 million.
• The company reported $0.53 EPS for the last quarter, missing the analyst estimate of $0.55, while revenue reached $79.70 million, exceeding expectations.
• AMERISAFE plans to pay a quarterly dividend of $0.39 per share on September 26, reflecting an annualized yield of 3.4%.

Northern Trust Corp lowered its stake in shares of AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 199,706 shares of the insurance provider's stock after selling 6,969 shares during the period. Northern Trust Corp owned about 1.05% of AMERISAFE worth $10,495,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. raised its stake in shares of AMERISAFE by 0.4% during the 1st quarter. Raymond James Financial Inc. now owns 189,033 shares of the insurance provider's stock valued at $9,934,000 after buying an additional 679 shares during the last quarter. Boston Partners raised its stake in shares of AMERISAFE by 49.0% during the 1st quarter. Boston Partners now owns 56,126 shares of the insurance provider's stock valued at $2,949,000 after buying an additional 18,464 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of AMERISAFE by 45.5% in the 1st quarter. Russell Investments Group Ltd. now owns 69,169 shares of the insurance provider's stock valued at $3,635,000 after purchasing an additional 21,628 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of AMERISAFE by 27.2% in the 1st quarter. Public Sector Pension Investment Board now owns 60,368 shares of the insurance provider's stock valued at $3,172,000 after purchasing an additional 12,895 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of AMERISAFE in the 1st quarter valued at about $8,466,000. Hedge funds and other institutional investors own 97.41% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AMSF. Truist Financial cut their price target on AMERISAFE from $54.00 to $50.00 and set a "hold" rating for the company in a research note on Monday, July 28th. Wall Street Zen upgraded AMERISAFE from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.

Insider Transactions at AMERISAFE

In other news, CFO Anastasios Omiridis sold 1,343 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.75, for a total transaction of $60,099.25. Following the transaction, the chief financial officer directly owned 2,253 shares in the company, valued at $100,821.75. The trade was a 37.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.61% of the company's stock.

AMERISAFE Price Performance

AMSF stock traded up $0.27 during trading on Thursday, hitting $45.39. The stock had a trading volume of 139,287 shares, compared to its average volume of 66,232. AMERISAFE, Inc. has a twelve month low of $42.48 and a twelve month high of $60.24. The stock has a market capitalization of $861.96 million, a P/E ratio of 17.19 and a beta of 0.38. The company's 50-day moving average price is $45.20 and its two-hundred day moving average price is $47.13.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last posted 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 return on equity of 16.54% and a net margin of 16.46%.The firm had revenue of $79.70 million during the quarter, compared to analyst estimates of $77.30 million. As a group, sell-side analysts expect that AMERISAFE, Inc. will post 2.45 EPS for the current fiscal year.

AMERISAFE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, September 12th. AMERISAFE's payout ratio is presently 59.09%.

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.