AMERISAFE (AMSF) Cut to Hold at BidaskClub

AMERISAFE (NASDAQ:AMSF) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts also recently commented on AMSF. B. Riley reissued a “buy” rating on shares of AMERISAFE in a research note on Monday, November 6th. SunTrust Banks reissued a “buy” rating and set a $69.00 target price on shares of AMERISAFE in a research note on Friday, October 27th. Boenning Scattergood reissued a “hold” rating on shares of AMERISAFE in a research note on Thursday, October 26th. FBR & Co reaffirmed a “buy” rating on shares of AMERISAFE in a research note on Wednesday, October 25th. Finally, Zacks Investment Research raised AMERISAFE from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, September 18th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $66.00.

Shares of AMERISAFE (NASDAQ AMSF) traded down $0.45 during trading on Wednesday, hitting $60.60. 114,930 shares of the stock were exchanged, compared to its average volume of 96,529. The company has a market capitalization of $1,166.19, a PE ratio of 18.04 and a beta of 0.88. AMERISAFE has a 52 week low of $51.20 and a 52 week high of $69.40.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings results on Wednesday, October 25th. The insurance provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.08. The business had revenue of $92.90 million during the quarter, compared to the consensus estimate of $92.04 million. AMERISAFE had a return on equity of 13.92% and a net margin of 17.07%. AMERISAFE’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share. analysts expect that AMERISAFE will post 3.22 EPS for the current fiscal year.

In related news, CEO G. Janelle Frost sold 1,728 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $66.74, for a total value of $115,326.72. Following the sale, the chief executive officer now directly owns 54,322 shares in the company, valued at $3,625,450.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of AMERISAFE by 0.9% during the second quarter. BlackRock Inc. now owns 2,275,948 shares of the insurance provider’s stock worth $129,615,000 after purchasing an additional 21,196 shares during the period. Neuberger Berman Group LLC raised its position in shares of AMERISAFE by 7.6% during the third quarter. Neuberger Berman Group LLC now owns 1,312,660 shares of the insurance provider’s stock worth $76,397,000 after purchasing an additional 92,819 shares during the period. Goldman Sachs Group Inc. raised its position in shares of AMERISAFE by 13.1% during the second quarter. Goldman Sachs Group Inc. now owns 559,157 shares of the insurance provider’s stock worth $31,844,000 after purchasing an additional 64,955 shares during the period. State Street Corp raised its position in shares of AMERISAFE by 1.8% during the second quarter. State Street Corp now owns 487,661 shares of the insurance provider’s stock worth $27,771,000 after purchasing an additional 8,645 shares during the period. Finally, Schroder Investment Management Group raised its position in shares of AMERISAFE by 55.6% during the second quarter. Schroder Investment Management Group now owns 430,189 shares of the insurance provider’s stock worth $24,542,000 after purchasing an additional 153,671 shares during the period. 99.52% of the stock is currently owned by institutional investors.

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About AMERISAFE

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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