Citizens Jmp Cuts AMERISAFE (NASDAQ:AMSF) Price Target to $55.00

AMERISAFE (NASDAQ:AMSF) had its price objective trimmed by Citizens Jmp from $60.00 to $55.00 in a report released on Friday,Benzinga reports. The brokerage currently has a market outperform rating on the insurance provider’s stock.

AMSF has been the topic of several other research reports. Wall Street Zen lowered AMERISAFE from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AMERISAFE in a research note on Monday, December 29th. Citigroup reiterated a “market outperform” rating on shares of AMERISAFE in a research report on Friday. Finally, JMP Securities lowered their target price on AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

AMERISAFE Trading Down 0.8%

Shares of NASDAQ:AMSF opened at $38.12 on Friday. The firm has a 50 day moving average of $39.20 and a 200-day moving average of $42.17. The stock has a market capitalization of $721.23 million, a PE ratio of 14.61 and a beta of 0.36. AMERISAFE has a 12 month low of $36.33 and a 12 month high of $53.27.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $71.29 million for the quarter, compared to analyst estimates of $78.29 million. AMERISAFE had a net margin of 16.12% and a return on equity of 16.94%. On average, research analysts predict that AMERISAFE will post 2.45 EPS for the current fiscal year.

AMERISAFE Announces Dividend

The company also recently declared a special dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, December 5th were issued a dividend of $1.00 per share. This represents a dividend yield of 420.0%. The ex-dividend date was Friday, December 5th. AMERISAFE’s payout ratio is 59.77%.

Insider Transactions at AMERISAFE

In related news, CFO Anastasios Omiridis sold 1,247 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $40.21, for a total value of $50,141.87. Following the completion of the transaction, the chief financial officer owned 2,539 shares in the company, valued at $102,093.19. This trade represents a 32.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AMERISAFE

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning grew its holdings in shares of AMERISAFE by 96.9% during the second quarter. Creative Planning now owns 39,673 shares of the insurance provider’s stock valued at $1,735,000 after buying an additional 19,527 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in AMERISAFE by 11.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,324 shares of the insurance provider’s stock valued at $758,000 after acquiring an additional 1,800 shares in the last quarter. Strs Ohio acquired a new position in AMERISAFE during the 1st quarter valued at about $646,000. Geode Capital Management LLC increased its holdings in AMERISAFE by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 561,956 shares of the insurance provider’s stock worth $24,575,000 after purchasing an additional 7,420 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of AMERISAFE by 4.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 40,618 shares of the insurance provider’s stock worth $1,776,000 after purchasing an additional 1,905 shares during the last quarter. 97.41% of the stock is owned by institutional investors and hedge funds.

AMERISAFE Company Profile

Amerisafe, Inc (NASDAQ: AMSF) is a specialty provider of workers’ compensation insurance products and services in the United States. The company focuses on underwriting and managing workers’ compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety.

In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services.