AMERISAFE (NASDAQ:AMSF) Rating Reiterated by JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of AMERISAFE (NASDAQ:AMSF) in a research note issued to investors on Monday, Benzinga reports. JMP Securities currently has a $65.00 price objective on the insurance provider’s stock.

Separately, TheStreet raised shares of AMERISAFE from a c+ rating to a b- rating in a report on Monday, March 4th.

AMERISAFE Price Performance

Shares of NASDAQ:AMSF opened at $50.01 on Monday. The business’s fifty day moving average price is $50.22 and its two-hundred day moving average price is $49.59. AMERISAFE has a fifty-two week low of $45.34 and a fifty-two week high of $57.06. The stock has a market capitalization of $957.19 million, a price-to-earnings ratio of 15.48 and a beta of 0.32.

AMERISAFE (NASDAQ:AMSF) last posted its earnings results on Wednesday, February 21st. The insurance provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.08. AMERISAFE had a net margin of 20.24% and a return on equity of 17.19%. The business had revenue of $73.88 million for the quarter, compared to analyst estimates of $75.15 million. Research analysts expect that AMERISAFE will post 2.47 EPS for the current fiscal year.

AMERISAFE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from AMERISAFE’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 7th. AMERISAFE’s payout ratio is currently 45.82%.

Institutional Investors Weigh In On AMERISAFE

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in shares of AMERISAFE by 686.6% during the second quarter. Millennium Management LLC now owns 181,012 shares of the insurance provider’s stock valued at $9,414,000 after purchasing an additional 158,001 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in AMERISAFE by 27.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 679,183 shares of the insurance provider’s stock valued at $35,325,000 after buying an additional 147,618 shares during the last quarter. Bank of America Corp DE increased its stake in shares of AMERISAFE by 32.6% in the 1st quarter. Bank of America Corp DE now owns 549,586 shares of the insurance provider’s stock valued at $26,902,000 after buying an additional 135,014 shares during the period. JPMorgan Chase & Co. raised its position in shares of AMERISAFE by 422.7% during the first quarter. JPMorgan Chase & Co. now owns 156,124 shares of the insurance provider’s stock worth $7,642,000 after acquiring an additional 126,258 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in shares of AMERISAFE by 18.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 678,321 shares of the insurance provider’s stock valued at $31,732,000 after acquiring an additional 105,414 shares during the period. Institutional investors own 97.41% of the company’s stock.

About AMERISAFE

AMERISAFE, Inc, an insurance holding company, underwrites workers' compensation insurance in the United States. The company provides benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. It sells its products through retail and wholesale brokers and agents; and small and mid-sized employers engaged in hazardous industries, including construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime.