Russell Investments Group Ltd. Buys 21,628 Shares of AMERISAFE, Inc. $AMSF

Key Points

• Russell Investments Group Ltd. increased its holdings in AMERISAFE, Inc. by 45.5% in the first quarter, acquiring an additional 21,628 shares for a total of 69,169 shares worth approximately $3.64 million.
• Analysts currently rate AMERISAFE with a consensus of "Moderate Buy," with a target price of $57.50; recent ratings include JMP Securities setting a price target of $65.00 and Truist Financial lowering theirs from $54.00 to $50.00.
• AMERISAFE announced a quarterly dividend of $0.39, which corresponds to an annualized yield of 3.3%, with the ex-dividend date set for September 12th.

Russell Investments Group Ltd. lifted its position in shares of AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) by 45.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,169 shares of the insurance provider's stock after buying an additional 21,628 shares during the period. Russell Investments Group Ltd. owned about 0.36% of AMERISAFE worth $3,635,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in AMERISAFE in the 4th 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 valued at $82,000 after buying an additional 1,167 shares during the period. GAMMA Investing LLC increased its stake in shares of AMERISAFE by 19.1% during the first quarter. GAMMA Investing LLC now owns 1,600 shares of the insurance provider's stock valued at $84,000 after buying an additional 257 shares during the period. Aquatic Capital Management LLC boosted its position in shares of AMERISAFE by 336.1% during the fourth quarter. Aquatic Capital Management LLC now owns 3,925 shares of the insurance provider's stock valued at $202,000 after purchasing an additional 3,025 shares in the last quarter. Finally, R Squared Ltd boosted its position in shares of AMERISAFE by 144.2% during the first 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. 97.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial dropped their price target on AMERISAFE from $54.00 to $50.00 and set a "hold" rating on the stock in a research report on Monday, July 28th. Wall Street Zen raised AMERISAFE from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, AMERISAFE currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.

AMERISAFE Stock Performance

Shares of NASDAQ:AMSF traded up $0.24 during midday trading on Friday, reaching $46.18. 53,442 shares of the company's stock traded hands, compared to its average volume of 84,751. The company 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 one year low of $42.48 and a one year high of $60.24. The stock has a 50 day moving average of $44.81 and a 200 day moving average of $47.36.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). The business had revenue of $79.70 million for the quarter, compared to the consensus estimate of $77.30 million. AMERISAFE had a net margin of 16.46% and a return on equity of 16.54%. Sell-side analysts predict that AMERISAFE, Inc. will post 2.45 EPS for the current fiscal year.

AMERISAFE Announces Dividend

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

Insider Activity

In related news, CFO Anastasios Omiridis sold 1,343 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $44.75, for a total transaction of $60,099.25. Following the completion of the sale, the chief financial officer owned 2,253 shares in the company, valued at approximately $100,821.75. This represents a 37.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.61% of the stock is currently owned by insiders.

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.