Virtus Advisers LLC Invests $310,000 in AMERISAFE, Inc. $AMSF

Key Points

• Virtus Advisers LLC has made a new investment of approximately $310,000 in AMERISAFE, Inc., acquiring 5,898 shares during the first quarter.
• AMERISAFE recently announced a quarterly dividend of $0.39, representing an annual yield of 3.3%, with the ex-dividend date set for September 12th.
• Following recent analyses, AMERISAFE holds a Moderate Buy average rating with a new price target of $57.50, and analysts expect earnings per share to reach 2.45 for the current year.

Virtus Advisers LLC acquired a new position in shares of AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,898 shares of the insurance provider's stock, valued at approximately $310,000.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in AMERISAFE by 19.1% during the first quarter. GAMMA Investing LLC now owns 1,600 shares of the insurance provider's stock worth $84,000 after acquiring an additional 257 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of AMERISAFE by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,842 shares of the insurance provider's stock worth $559,000 after buying an additional 357 shares during the last quarter. Isthmus Partners LLC grew its stake in shares of AMERISAFE by 0.8% during the first quarter. Isthmus Partners LLC now owns 64,441 shares of the insurance provider's stock worth $3,386,000 after buying an additional 515 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of AMERISAFE by 6.1% during the fourth quarter. MetLife Investment Management LLC now owns 11,692 shares of the insurance provider's stock worth $603,000 after buying an additional 669 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of AMERISAFE by 0.4% during the first quarter. Raymond James Financial Inc. now owns 189,033 shares of the insurance provider's stock worth $9,934,000 after buying an additional 679 shares during the last quarter. Institutional investors and hedge funds own 97.41% of the company's stock.

Insider Buying and Selling at AMERISAFE

In other news, CFO Anastasios Omiridis sold 1,343 shares of the 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 completion of the transaction, the chief financial officer directly owned 2,253 shares of the company's stock, valued at $100,821.75. This represents a 37.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.61% of the stock is owned by corporate insiders.

AMERISAFE Price Performance

Shares of AMERISAFE stock traded up $0.24 on Friday, reaching $46.18. 53,442 shares of the company traded hands, compared to its average volume of 103,378. AMERISAFE, Inc. has a 52 week low of $42.48 and a 52 week high of $60.24. The company has a 50 day moving average of $44.75 and a 200 day moving average of $47.39. The firm has a market capitalization of $876.96 million, a PE ratio of 17.49 and a beta of 0.39.

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

AMERISAFE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given 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 currently 59.09%.

Analysts Set New Price Targets

A number of analysts have weighed in on AMSF shares. Wall Street Zen raised shares of AMERISAFE from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Truist Financial cut their price target on shares of AMERISAFE from $54.00 to $50.00 and set a "hold" rating on the stock in a report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.50.

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.