Truist Financial Issues Pessimistic Forecast for AMERISAFE (NASDAQ:AMSF) Stock Price

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 price target lowered by analysts at Truist Financial from $54.00 to $50.00 in a report released on Monday,Benzinga reports. The firm currently has a "hold" rating on the insurance provider's stock. Truist Financial's price target would indicate a potential upside of 8.19% from the stock's current price.

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

AMERISAFE Stock Performance

Shares of NASDAQ:AMSF traded down $0.02 during mid-day trading on Monday, hitting $46.22. The stock had a trading volume of 38,795 shares, compared to its average volume of 103,928. The company's 50 day moving average is $44.99 and its 200-day moving average is $48.19. AMERISAFE has a 12-month low of $42.48 and a 12-month high of $60.24. The company has a market cap of $880.40 million, a PE ratio of 17.49 and a beta of 0.40.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last announced its 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 firm had revenue of $79.70 million for the quarter, compared to analyst estimates of $77.30 million. On average, equities research analysts predict that AMERISAFE will post 2.45 EPS for the current fiscal year.

Institutional Trading of AMERISAFE

A number of institutional investors have recently added to or reduced their stakes in AMSF. Signaturefd LLC lifted its stake in shares of AMERISAFE by 170.5% in the 2nd quarter. Signaturefd LLC now owns 779 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 491 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of AMERISAFE during the 4th quarter worth about $43,000. PNC Financial Services Group Inc. boosted its stake in shares of 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 increased its holdings in shares of AMERISAFE by 19.1% during the 1st 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 during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of AMERISAFE during the 4th quarter valued at about $180,000. 97.41% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.