Palisade Capital Management LP Cuts Position in AMERISAFE, Inc. (NASDAQ:AMSF)

Palisade Capital Management LP decreased its holdings in AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) by 3.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,986 shares of the insurance provider's stock after selling 11,006 shares during the quarter. Palisade Capital Management LP owned about 1.41% of AMERISAFE worth $14,135,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of AMERISAFE by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 94,924 shares of the insurance provider's stock valued at $4,988,000 after buying an additional 2,288 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of AMERISAFE in the 1st quarter valued at about $509,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of AMERISAFE by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,524 shares of the insurance provider's stock valued at $818,000 after purchasing an additional 1,731 shares in the last quarter. GAMMA Investing LLC increased its stake 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. Finally, Mackenzie Financial Corp purchased a new position in shares of AMERISAFE in the 4th quarter valued at about $412,000. Institutional investors and hedge funds own 97.41% of the company's stock.

Analysts Set New Price Targets

Separately, JMP Securities restated a "market outperform" rating and issued a $65.00 price target on shares of AMERISAFE in a research note on Wednesday, April 30th.

AMERISAFE Trading Up 1.7%

NASDAQ:AMSF traded up $0.72 during trading hours on Friday, hitting $43.83. 67,720 shares of the stock were exchanged, compared to its average volume of 108,475. The company has a market cap of $834.96 million, a P/E ratio of 17.67 and a beta of 0.40. The firm's fifty day moving average price is $45.85 and its 200 day moving average price is $48.94. AMERISAFE, Inc. has a 52-week low of $42.48 and a 52-week high of $60.24.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last issued its earnings results on Tuesday, April 29th. The insurance provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01. The business had revenue of $83.78 million for the quarter, compared to analysts' expectations of $76.66 million. AMERISAFE had a return on equity of 16.41% and a net margin of 15.76%. Equities analysts expect that AMERISAFE, Inc. will post 2.45 EPS for the current fiscal year.

AMERISAFE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 13th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Friday, June 13th. AMERISAFE's dividend payout ratio is presently 62.90%.

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.