Bank of America Corp DE Increases Stock Position in AMERISAFE, Inc. $AMSF

Key Points

• Bank of America increased its AMERISAFE stake by 6.7% in the first quarter, bringing its holdings to 623,697 shares worth approximately $20.8 million. Institutional investors collectively own 97.41% of the company.
• Analyst sentiment is mixed but leans cautious: AMERISAFE has an average “Hold” rating, a $44 consensus price target, and recent downgrades from Truist, Zacks Research, and Weiss Ratings.
• AMERISAFE reported quarterly EPS of $0.44, below the $0.52 consensus estimate, although revenue exceeded expectations. The company declared a quarterly dividend of $0.41, representing a 6.2% annualized yield.

Bank of America Corp DE increased its position in shares of AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 623,697 shares of the insurance provider's stock after buying an additional 39,168 shares during the period. Bank of America Corp DE owned about 3.34% of AMERISAFE worth $20,788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. AQR Capital Management LLC boosted its holdings in AMERISAFE by 5.1% in the first quarter. AQR Capital Management LLC now owns 83,478 shares of the insurance provider's stock valued at $4,387,000 after purchasing an additional 4,050 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in AMERISAFE by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,313 shares of the insurance provider's stock valued at $594,000 after acquiring an additional 471 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in AMERISAFE by 82.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 217,280 shares of the insurance provider's stock valued at $11,418,000 after acquiring an additional 98,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AMERISAFE by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,118 shares of the insurance provider's stock worth $2,266,000 after acquiring an additional 3,435 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of AMERISAFE by 106.8% in the 1st quarter. Jane Street Group LLC now owns 29,176 shares of the insurance provider's stock worth $1,533,000 after purchasing an additional 15,070 shares during the last quarter. 97.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMSF shares. Truist Financial cut their target price on shares of AMERISAFE from $34.00 to $32.00 and set a "hold" rating on the stock in a research note on Thursday, July 23rd. Zacks Research downgraded AMERISAFE from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Weiss Ratings lowered AMERISAFE from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Finally, Wall Street Zen upgraded AMERISAFE from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $44.00.

AMERISAFE Stock Up 0.5%

Shares of NASDAQ AMSF opened at $26.53 on Wednesday. The firm's 50-day moving average price is $31.58 and its two-hundred day moving average price is $32.78. AMERISAFE, Inc. has a 52-week low of $26.32 and a 52-week high of $47.86. The stock has a market capitalization of $491.87 million, a P/E ratio of 10.70 and a beta of 0.24.

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). The company had revenue of $91.97 million during the quarter, compared to the consensus estimate of $85.09 million. AMERISAFE had a return on equity of 14.87% and a net margin of 14.00%. As a group, equities research analysts expect that AMERISAFE, Inc. will post 1.97 earnings per share for the current year.

AMERISAFE Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.64 annualized dividend and a dividend yield of 6.2%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source