Palisade Capital Management LP Makes New Investment in AMERISAFE, Inc. $AMSF

Palisade Capital Management LP bought a new position in AMERISAFE, Inc. (NASDAQ:AMSF) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 92,958 shares of the insurance provider’s stock, valued at approximately $3,145,000.

Several other institutional investors have also recently added to or reduced their stakes in AMSF. Clearstead Advisors LLC increased its position in AMERISAFE by 142.4% in the 4th quarter. Clearstead Advisors LLC now owns 657 shares of the insurance provider’s stock valued at $25,000 after buying an additional 386 shares in the last quarter. Hantz Financial Services Inc. raised its stake in AMERISAFE by 159.6% during the 4th quarter. Hantz Financial Services Inc. now owns 714 shares of the insurance provider’s stock worth $27,000 after buying an additional 439 shares during the period. Global Retirement Partners LLC bought a new position in AMERISAFE in the second quarter worth approximately $26,000. Parallel Advisors LLC boosted its holdings in AMERISAFE by 5,714.3% in the first quarter. Parallel Advisors LLC now owns 814 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 800 shares in the last quarter. Finally, Quarry LP boosted its holdings in AMERISAFE by 346.9% in the third quarter. Quarry LP now owns 943 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 732 shares in the last quarter. 97.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research lowered AMERISAFE from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Truist Financial reduced their price target on shares of AMERISAFE from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of AMERISAFE from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings lowered shares of AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.00.

AMERISAFE Price Performance

Shares of NASDAQ:AMSF opened at $26.18 on Wednesday. AMERISAFE, Inc. has a 1 year low of $25.65 and a 1 year high of $47.86. The company has a market capitalization of $485.38 million, a PE ratio of 10.56 and a beta of 0.24. The business has a fifty day moving average price of $31.03 and a two-hundred day moving average price of $32.35.

AMERISAFE (NASDAQ:AMSF) last released its earnings results on Tuesday, July 21st. The insurance provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). AMERISAFE had a net margin of 14.00% and a return on equity of 14.87%. The company had revenue of $91.97 million during the quarter, compared to analysts’ expectations of $85.09 million. Sell-side analysts anticipate that AMERISAFE, Inc. will post 1.97 earnings per share for the current year.

AMERISAFE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, September 11th. AMERISAFE’s dividend payout ratio is presently 66.13%.

AMERISAFE 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.