Bank of America Corp DE Cuts Stock Holdings in AMERISAFE, Inc. (NASDAQ:AMSF)

Bank of America Corp DE reduced its holdings in AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 556,801 shares of the insurance provider's stock after selling 74,823 shares during the quarter. Bank of America Corp DE owned about 2.92% of AMERISAFE worth $28,697,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. bought a new stake in AMERISAFE in the fourth quarter worth approximately $359,000. Nisa Investment Advisors LLC increased its holdings in AMERISAFE by 1,328.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,914 shares of the insurance provider's stock worth $305,000 after purchasing an additional 5,500 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in AMERISAFE by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,795 shares of the insurance provider's stock worth $34,109,000 after purchasing an additional 21,799 shares in the last quarter. Raymond James Financial Inc. bought a new stake in AMERISAFE in the fourth quarter worth approximately $9,708,000. Finally, Geode Capital Management LLC increased its holdings in AMERISAFE by 18.4% in the fourth quarter. Geode Capital Management LLC now owns 536,836 shares of the insurance provider's stock worth $27,675,000 after purchasing an additional 83,297 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors.

AMERISAFE Stock Performance

AMERISAFE stock traded up $0.02 during mid-day trading on Friday, reaching $46.39. The stock had a trading volume of 61,171 shares, compared to its average volume of 109,716. AMERISAFE, Inc. has a fifty-two week low of $41.97 and a fifty-two week high of $60.24. The stock's 50-day simple moving average is $49.09 and its 200-day simple moving average is $51.50. The firm has a market capitalization of $883.73 million, a PE ratio of 14.50 and a beta of 0.41.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.01. AMERISAFE had a return on equity of 16.50% and a net margin of 19.49%. The firm had revenue of $83.78 million during the quarter, compared to analysts' expectations of $76.66 million. On average, research analysts forecast that AMERISAFE, Inc. will post 2.45 earnings per share for the current fiscal year.

AMERISAFE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a yield of 3.36%. AMERISAFE's dividend payout ratio (DPR) is presently 62.90%.

Wall Street Analyst Weigh In

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

AMERISAFE 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.