Renaissance Technologies LLC lowered its position in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 26.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,900 shares of the insurance provider’s stock after selling 10,500 shares during the period. Renaissance Technologies LLC’s holdings in AMERISAFE were worth $1,876,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue increased its position in shares of AMERISAFE by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,120 shares of the insurance provider’s stock worth $137,000 after buying an additional 40 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of AMERISAFE by 1.3% in the first quarter. BNP Paribas Arbitrage SA now owns 4,640 shares of the insurance provider’s stock worth $301,000 after buying an additional 59 shares in the last quarter. Legal & General Group Plc increased its position in shares of AMERISAFE by 0.3% in the first quarter. Legal & General Group Plc now owns 31,819 shares of the insurance provider’s stock worth $2,064,000 after buying an additional 93 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of AMERISAFE by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the insurance provider’s stock worth $506,000 after buying an additional 100 shares in the last quarter. Finally, Suntrust Banks Inc. increased its position in shares of AMERISAFE by 4.1% in the first quarter. Suntrust Banks Inc. now owns 4,225 shares of the insurance provider’s stock worth $273,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.
AMERISAFE, Inc. (AMSF) traded up 0.09% during mid-day trading on Friday, reaching $55.45. The company had a trading volume of 48,508 shares. The stock has a market cap of $1.06 billion, a PE ratio of 16.17 and a beta of 0.87. The firm’s 50-day moving average price is $56.70 and its 200-day moving average price is $59.27. AMERISAFE, Inc. has a 12 month low of $51.20 and a 12 month high of $69.40.
AMERISAFE (NASDAQ:AMSF) last released its quarterly earnings data on Thursday, July 27th. The insurance provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. AMERISAFE had a net margin of 17.17% and a return on equity of 14.04%. The business had revenue of $89.93 million during the quarter, compared to analysts’ expectations of $92.33 million. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. Equities research analysts forecast that AMERISAFE, Inc. will post $3.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, September 7th. AMERISAFE’s dividend payout ratio (DPR) is presently 23.32%.
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A number of research analysts have recently weighed in on the company. BidaskClub upgraded AMERISAFE from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research downgraded AMERISAFE from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 2nd. Finally, FBR & Co reiterated an “outperform” rating and set a $64.00 price target (down previously from $71.00) on shares of AMERISAFE in a report on Wednesday, May 10th.
In other news, Director Philip A. Garcia bought 1,554 shares of the stock in a transaction on Wednesday, May 31st. The stock was purchased at an average price of $51.54 per share, for a total transaction of $80,093.16. Following the acquisition, the director now owns 9,558 shares in the company, valued at $492,619.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Randy Roach sold 500 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $56.90, for a total value of $28,450.00. Following the transaction, the director now owns 8,399 shares of the company’s stock, valued at approximately $477,903.10. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 6,054 shares of company stock valued at $311,443. Corporate insiders own 2.20% of the company’s stock.
AMERISAFE Company Profile
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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