Amerisafe Inc. (AMSF) Stake Cut by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System lowered its position in Amerisafe Inc. (NASDAQ:AMSF) by 16.9% during the second quarter, Holdings Channel reports. The firm owned 20,570 shares of the company’s stock after selling 4,187 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of Amerisafe worth $1,259,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Amerisafe by 958.6% in the second quarter. American Century Companies Inc. now owns 832,006 shares of the company’s stock worth $64,543,000 after buying an additional 753,408 shares during the period. Norges Bank acquired a new stake in shares of Amerisafe during the fourth quarter worth about $8,725,000. Emerald Acquisition Ltd. acquired a new stake in shares of Amerisafe during the second quarter worth about $9,175,000. Aberdeen Asset Management PLC UK increased its stake in shares of Amerisafe by 47.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 393,871 shares of the company’s stock worth $24,112,000 after buying an additional 126,668 shares during the period. Finally, Palisade Capital Management LLC NJ increased its stake in shares of Amerisafe by 73.6% in the first quarter. Palisade Capital Management LLC NJ now owns 192,038 shares of the company’s stock worth $10,090,000 after buying an additional 81,439 shares during the period. 96.56% of the stock is owned by institutional investors.
Amerisafe Inc. (NASDAQ:AMSF) traded down 0.30% during mid-day trading on Tuesday, hitting $57.20. The stock had a trading volume of 43,471 shares. The firm has a market cap of $1.09 billion, a PE ratio of 13.37 and a beta of 0.75. Amerisafe Inc. has a 12-month low of $46.88 and a 12-month high of $64.97. The company has a 50-day moving average of $58.51 and a 200-day moving average of $57.28.
Amerisafe (NASDAQ:AMSF) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by $0.04. The firm had revenue of $97.56 million for the quarter, compared to analyst estimates of $100.25 million. Amerisafe had a return on equity of 16.95% and a net margin of 20.52%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. Analysts expect that Amerisafe Inc. will post $4.00 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.26%. Amerisafe’s dividend payout ratio is currently 16.78%.
AMSF has been the subject of a number of recent analyst reports. Zacks Investment Research raised Amerisafe from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. FBR & Co reissued a “buy” rating on shares of Amerisafe in a report on Friday, July 29th.
In related news, CEO G. Janelle Frost sold 15,432 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $59.01, for a total value of $910,642.32. Following the completion of the sale, the chief executive officer now directly owns 60,321 shares in the company, valued at approximately $3,559,542.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Neal Andrew Fuller sold 1,200 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $57.30, for a total value of $68,760.00. Following the completion of the sale, the chief financial officer now owns 25,060 shares of the company’s stock, valued at $1,435,938. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
AMERISAFE, Inc (AMERISAFE) is an insurance holding company. The Company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, manufacturing, agriculture, and oil and gas. It is engaged in underwriting the workers’ compensation exposures inherent in these industries.
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