AMERISAFE, Inc. (NASDAQ:AMSF) Stake Boosted by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. increased its stake in AMERISAFE, Inc. by 13.2% in the 1st quarter, owning approximately 684,558 shares worth about $35.97 million.
• AMERISAFE recently announced a quarterly dividend of $0.39 per share, resulting in an annualized dividend of $1.56 and a yield of 3.4%.
• Despite a revenue of $79.70 million, AMERISAFE missed earnings expectations for the quarter, reporting earnings per share of $0.53 against a consensus estimate of $0.55.

Westwood Holdings Group Inc. lifted its stake in shares of AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) by 13.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 684,558 shares of the insurance provider's stock after buying an additional 79,750 shares during the quarter. Westwood Holdings Group Inc. owned approximately 3.59% of AMERISAFE worth $35,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in AMSF. Royce & Associates LP boosted its holdings in AMERISAFE by 29.6% in the first quarter. Royce & Associates LP now owns 395,756 shares of the insurance provider's stock worth $20,797,000 after purchasing an additional 90,395 shares during the period. Geode Capital Management LLC boosted 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 during the period. GAMMA Investing LLC lifted its stake in AMERISAFE by 6,160.6% in the first quarter. GAMMA Investing LLC now owns 84,080 shares of the insurance provider's stock valued at $4,418,000 after buying an additional 82,737 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in AMERISAFE by 92.1% in the fourth quarter. Nuveen Asset Management LLC now owns 161,815 shares of the insurance provider's stock valued at $8,340,000 after buying an additional 77,582 shares during the last quarter. Finally, Norges Bank bought a new stake in AMERISAFE in the fourth quarter valued at $2,881,000. Institutional investors and hedge funds own 97.41% of the company's stock.

Insider Buying and Selling at AMERISAFE

In related news, CFO Anastasios Omiridis sold 1,343 shares of AMERISAFE stock in a transaction dated 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 directly owned 2,253 shares in the company, valued at $100,821.75. The trade was a 37.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.61% of the stock is currently owned by corporate insiders.

AMERISAFE Stock Up 0.4%

AMSF stock traded up $0.19 during mid-day trading on Friday, reaching $44.79. The company had a trading volume of 92,399 shares, compared to its average volume of 148,407. AMERISAFE, Inc. has a one year low of $42.48 and a one year high of $60.24. The stock's 50-day simple moving average is $44.59 and its two-hundred day simple moving average is $47.83. The stock has a market capitalization of $850.56 million, a P/E ratio of 16.97 and a beta of 0.39.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last issued its quarterly earnings data 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. On average, research analysts forecast that AMERISAFE, Inc. will post 2.45 EPS for the current fiscal year.

AMERISAFE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, September 12th. AMERISAFE's payout ratio is currently 59.09%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMSF. Truist Financial cut their target price on AMERISAFE from $54.00 to $50.00 and set a "hold" rating on the stock in a research note on Monday, July 28th. Wall Street Zen cut AMERISAFE from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $65.00 target price on shares of AMERISAFE in a research note on Wednesday, April 30th.

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.