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 cut its holdings in shares of AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,706 shares of the insurance provider's stock after selling 6,969 shares during the quarter. Northern Trust Corp owned 1.05% of AMERISAFE worth $10,495,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMSF. Lazard Asset Management LLC purchased a new stake in shares of AMERISAFE during the fourth quarter worth approximately $43,000. PNC Financial Services Group Inc. increased its stake in shares of AMERISAFE by 301.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,554 shares of the insurance provider's stock worth $82,000 after buying an additional 1,167 shares during the period. GAMMA Investing LLC raised its holdings in shares of AMERISAFE by 19.1% in the 1st quarter. GAMMA Investing LLC now owns 1,600 shares of the insurance provider's stock valued at $84,000 after purchasing an additional 257 shares in the last quarter. R Squared Ltd raised its holdings in shares of AMERISAFE by 144.2% in the 1st quarter. R Squared Ltd now owns 4,696 shares of the insurance provider's stock valued at $247,000 after purchasing an additional 2,773 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of AMERISAFE in the 4th quarter valued at $283,000. 97.41% of the stock is currently owned by institutional investors and hedge funds.

AMERISAFE Price Performance

Shares of NASDAQ:AMSF opened at $45.87 on Friday. The firm has a market capitalization of $871.07 million, a P/E ratio of 17.38 and a beta of 0.38. AMERISAFE, Inc. has a 12 month low of $42.48 and a 12 month high of $60.24. The company's fifty day moving average price is $45.05 and its 200 day moving average price is $47.25.

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 for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $79.70 million during the quarter, compared to analyst estimates of $77.30 million. AMERISAFE had a net margin of 16.46% and a return on equity of 16.54%. On average, sell-side analysts anticipate that AMERISAFE, Inc. will post 2.45 EPS for the current year.

AMERISAFE Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMSF shares. Truist Financial reduced their price objective on shares of AMERISAFE from $54.00 to $50.00 and set a "hold" rating on the stock in a report 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. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $57.50.

Insider Buying and Selling

In other AMERISAFE news, CFO Anastasios Omiridis sold 1,343 shares of AMERISAFE stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.75, for a total value of $60,099.25. Following the transaction, the chief financial officer directly owned 2,253 shares in the company, valued at approximately $100,821.75. The trade was a 37.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.61% of the company's stock.

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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