AMERISAFE (NASDAQ:AMSF) Sets New 12-Month Low – Time to Sell?

by · The Cerbat Gem

AMERISAFE, Inc. (NASDAQ:AMSF – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $39.07 and last traded at $39.13, with a volume of 206967 shares trading hands. The stock had previously closed at $39.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMSF shares. JMP Securities reduced their price target on shares of AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating for the company in a report on Tuesday, October 14th. Wall Street Zen cut shares of AMERISAFE from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AMERISAFE in a research report on Monday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of AMERISAFE in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Check Out Our Latest Analysis on AMERISAFE

AMERISAFE Trading Down 0.3%

The firm has a market cap of $740.50 million, a P/E ratio of 14.99 and a beta of 0.37. The company’s 50-day moving average is $41.26 and its two-hundred day moving average is $43.76.

AMERISAFE (NASDAQ:AMSF – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $71.29 million during the quarter, compared to the consensus estimate of $78.29 million. AMERISAFE had a return on equity of 16.94% and a net margin of 16.12%. Research analysts anticipate that AMERISAFE, Inc. will post 2.45 EPS for the current fiscal year.

AMERISAFE Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, December 5th. This represents a yield of 394.0%. AMERISAFE’s dividend payout ratio (DPR) is 59.77%.

Insider Activity

In other news, CFO Anastasios Omiridis sold 1,247 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $40.21, for a total value of $50,141.87. Following the completion of the sale, the chief financial officer owned 2,539 shares in the company, valued at $102,093.19. This represents a 32.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in AMERISAFE in the 1st quarter valued at about $8,466,000. Millennium Management LLC grew its holdings in shares of AMERISAFE by 176.3% in the third quarter. Millennium Management LLC now owns 191,825 shares of the insurance provider’s stock valued at $8,410,000 after acquiring an additional 122,387 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of AMERISAFE during the second quarter valued at approximately $4,345,000. Goldman Sachs Group Inc. increased its position in shares of AMERISAFE by 82.6% during the first quarter. Goldman Sachs Group Inc. now owns 217,280 shares of the insurance provider’s stock valued at $11,418,000 after acquiring an additional 98,293 shares during the last quarter. Finally, Royce & Associates LP boosted its position in AMERISAFE by 21.3% in the third quarter. Royce & Associates LP now owns 555,621 shares of the insurance provider’s stock worth $24,358,000 after purchasing an additional 97,434 shares during the last quarter. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

About AMERISAFE

(Get Free Report)

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.

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