AMERISAFE (NASDAQ:AMSF) Price Target Cut to $50.00 by Analysts at Truist Financial

Key Points

• Truist Financial has lowered its price target for AMERISAFE (NASDAQ: AMSF) from $54.00 to $50.00, maintaining a "hold" rating, suggesting a potential upside of 8.19% from the current price.
• AMERISAFE's stock performance showed a slight decline, trading at $46.22, well below its 12-month high of $60.24, following a recent earnings report that missed analyst EPS estimates.
• Institutional ownership of AMERISAFE is significant, with 97.41% of the stock held by institutional investors, indicating strong investor confidence despite recent challenges.

AMERISAFE (NASDAQ:AMSF - Get Free Report) had its target price reduced by analysts at Truist Financial from $54.00 to $50.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the insurance provider's stock. Truist Financial's price target indicates a potential upside of 11.66% from the stock's current price.

AMSF has been the topic of several other research reports. Wall Street Zen upgraded shares of AMERISAFE from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. JMP Securities restated a "market outperform" rating and set a $65.00 price objective on shares of AMERISAFE in a research report on Wednesday, April 30th.

AMERISAFE Stock Down 0.8%

Shares of NASDAQ:AMSF traded down $0.35 during midday trading on Monday, hitting $44.78. 146,197 shares of the stock traded hands, compared to its average volume of 106,319. The stock has a market capitalization of $850.42 million, a PE ratio of 16.96 and a beta of 0.40. The business's 50 day moving average is $44.89 and its two-hundred day moving average is $48.14. AMERISAFE has a one year low of $42.48 and a one year high of $60.24.

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 the consensus estimate 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 analysts' expectations of $77.30 million. As a group, sell-side analysts forecast that AMERISAFE will post 2.45 earnings per share for the current year.

Institutional Trading of AMERISAFE

A number of hedge funds and other institutional investors have recently modified their holdings of AMSF. Signaturefd LLC increased its stake in shares of AMERISAFE by 170.5% in the second quarter. Signaturefd LLC now owns 779 shares of the insurance provider's stock worth $34,000 after purchasing an additional 491 shares in the last quarter. Lazard Asset Management LLC purchased a new position in AMERISAFE during the fourth quarter valued at $43,000. PNC Financial Services Group Inc. grew its stake in 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 acquiring an additional 1,167 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 acquiring an additional 257 shares in the last quarter. Finally, Harbor Asset Planning Inc. purchased a new position in AMERISAFE during the second quarter valued at $113,000. 97.41% of the stock is owned by hedge funds and other institutional investors.

AMERISAFE Company 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.