Suntrust Banks Inc. Has $252,000 Stake in AMERISAFE, Inc. (AMSF)
Suntrust Banks Inc. grew its stake in AMERISAFE, Inc. (NASDAQ:AMSF) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,450 shares of the insurance provider’s stock after purchasing an additional 225 shares during the period. Suntrust Banks Inc.’s holdings in AMERISAFE were worth $252,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of AMERISAFE during the 1st quarter worth approximately $106,000. US Bancorp DE lifted its stake in shares of AMERISAFE by 8.8% during the 1st quarter. US Bancorp DE now owns 2,510 shares of the insurance provider’s stock worth $162,000 after acquiring an additional 202 shares during the last quarter. Pinebridge Investments L.P. lifted its stake in shares of AMERISAFE by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,534 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 26 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of AMERISAFE during the 1st quarter worth approximately $208,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of AMERISAFE by 79.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,799 shares of the insurance provider’s stock worth $216,000 after acquiring an additional 1,679 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on AMSF shares. Zacks Investment Research raised AMERISAFE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub lowered AMERISAFE from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Boenning Scattergood started coverage on AMERISAFE in a research note on Monday, September 25th. They set a “neutral” rating for the company.
In related news, CFO Neal Andrew Fuller sold 1,850 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $56.94, for a total value of $105,339.00. Following the completion of the transaction, the chief financial officer now directly owns 23,210 shares in the company, valued at $1,321,577.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Randy Roach sold 500 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $56.90, for a total value of $28,450.00. Following the completion of the transaction, the director now owns 8,399 shares of the company’s stock, valued at $477,903.10. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Shares of AMERISAFE, Inc. (AMSF) opened at 59.10 on Wednesday. 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 $56.89. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 17.23 and a beta of 0.88.
AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings data on Thursday, July 27th. The insurance provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The company 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%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. Analysts anticipate that AMERISAFE, Inc. will post $3.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were given a $0.20 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.80 annualized dividend and a yield of 1.35%. AMERISAFE’s payout ratio is 23.32%.
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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