Nuveen LLC Purchases New Shares in AMERISAFE, Inc. $AMSF

Key Points

• Nuveen LLC has invested approximately $8.47 million in AMERISAFE, acquiring 161,095 shares, which represents about 0.85% of the company's total shares.
• AMERISAFE recently announced a quarterly dividend of $0.39 per share, with a yield of 3.3%, payable on September 26, 2023.
• Equities analysts have a consensus rating of "Moderate Buy" for AMERISAFE, with an average price target of $57.50.

Nuveen LLC purchased a new position in AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 161,095 shares of the insurance provider's stock, valued at approximately $8,466,000. Nuveen LLC owned about 0.85% of AMERISAFE at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMSF. Lazard Asset Management LLC bought a new position in AMERISAFE during the 4th quarter worth about $43,000. PNC Financial Services Group Inc. grew its holdings in AMERISAFE by 301.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,554 shares of the insurance provider's stock worth $82,000 after acquiring an additional 1,167 shares in the last quarter. GAMMA Investing LLC grew its holdings in AMERISAFE by 19.1% during the 1st quarter. GAMMA Investing LLC now owns 1,600 shares of the insurance provider's stock worth $84,000 after acquiring an additional 257 shares in the last quarter. Aquatic Capital Management LLC grew its holdings in AMERISAFE by 336.1% during the 4th quarter. Aquatic Capital Management LLC now owns 3,925 shares of the insurance provider's stock worth $202,000 after acquiring an additional 3,025 shares in the last quarter. Finally, R Squared Ltd grew its holdings in AMERISAFE by 144.2% during the 1st quarter. R Squared Ltd now owns 4,696 shares of the insurance provider's stock worth $247,000 after acquiring an additional 2,773 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors.

Insider Activity at AMERISAFE

In other news, CFO Anastasios Omiridis sold 1,343 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.75, for a total transaction of $60,099.25. Following the sale, the chief financial officer owned 2,253 shares of the company's stock, valued at $100,821.75. This trade represents a 37.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.61% of the stock is owned by insiders.

Analyst Ratings Changes

AMSF has been the subject of several analyst reports. Truist Financial decreased their price target on shares of AMERISAFE from $54.00 to $50.00 and set a "hold" rating for the company in a research report on Monday, July 28th. Wall Street Zen raised shares of AMERISAFE from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.50.

AMERISAFE Stock Up 0.5%

Shares of NASDAQ AMSF traded up $0.24 during midday trading on Friday, reaching $46.18. 53,442 shares of the stock were exchanged, compared to its average volume of 84,751. The firm has a market cap of $876.96 million, a price-to-earnings ratio of 17.49 and a beta of 0.39. AMERISAFE, Inc. has a twelve month low of $42.48 and a twelve month high of $60.24. The firm has a 50-day simple moving average of $44.81 and a two-hundred day simple moving average of $47.36.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). The firm had revenue of $79.70 million for the quarter, compared to analyst estimates of $77.30 million. AMERISAFE had a return on equity of 16.54% and a net margin of 16.46%. Research 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. Stockholders of record on Friday, September 12th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.4%. AMERISAFE's dividend payout ratio (DPR) is presently 59.09%.

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.