Granite Investment Partners LLC Boosts Stake in AMERISAFE, Inc. (NASDAQ:AMSF)
Granite Investment Partners LLC boosted its stake in AMERISAFE, Inc. (NASDAQ:AMSF) by 2.5% during the second quarter, Holdings Channel reports. The institutional investor owned 176,470 shares of the insurance provider’s stock after buying an additional 4,286 shares during the period. Granite Investment Partners LLC’s holdings in AMERISAFE were worth $10,050,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new position in shares of AMERISAFE during the first quarter valued at about $106,000. State of Alaska Department of Revenue raised its position in shares of AMERISAFE by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,120 shares of the insurance provider’s stock valued at $137,000 after buying an additional 40 shares in the last quarter. US Bancorp DE raised its position in shares of AMERISAFE by 1.2% in the second quarter. US Bancorp DE now owns 2,540 shares of the insurance provider’s stock valued at $145,000 after buying an additional 30 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of AMERISAFE during the first quarter valued at about $208,000. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of AMERISAFE by 4.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,540 shares of the insurance provider’s stock valued at $259,000 after buying an additional 180 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.
AMERISAFE, Inc. (NASDAQ AMSF) opened at 57.25 on Friday. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 16.69 and a beta of 0.87. AMERISAFE, Inc. has a 52-week low of $51.20 and a 52-week high of $69.40. The company’s 50-day moving average price is $56.68 and its 200-day moving average price is $59.60.
AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings results on Thursday, July 27th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $89.93 million during the quarter, compared to analyst estimates of $92.33 million. AMERISAFE had a return on equity of 14.04% and a net margin of 17.17%. AMERISAFE’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Equities research analysts expect that AMERISAFE, Inc. will post $3.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a $0.20 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. AMERISAFE’s payout ratio is 23.32%.
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Several research analysts have recently issued reports on AMSF shares. BidaskClub raised AMERISAFE from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research raised AMERISAFE from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $64.00 price objective (down previously from $71.00) on shares of AMERISAFE in a research report on Wednesday, May 10th.
In other AMERISAFE news, Director Jared A. Morris acquired 2,500 shares of AMERISAFE stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average price of $50.82 per share, with a total value of $127,050.00. Following the completion of the purchase, the director now directly owns 12,390 shares of the company’s stock, valued at approximately $629,659.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randy Roach sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $56.90, for a total transaction of $28,450.00. Following the completion of the transaction, the director now directly owns 8,399 shares of the company’s stock, valued at approximately $477,903.10. The disclosure for this sale can be found here. Insiders purchased 6,054 shares of company stock valued at $311,443 in the last quarter. 2.20% of the stock is owned by company insiders.
Amerisafe, Inc is an insurance holding company. The Company is engaged in providing workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, and agriculture. It is engaged in underwriting the workers’ compensation exposures inherent in these industries.
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