Zacks Research Downgrades AMERISAFE (NASDAQ:AMSF) to Strong Sell

AMERISAFE (NASDAQ:AMSF) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Weiss Ratings upgraded shares of AMERISAFE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Truist Financial decreased their price target on shares of AMERISAFE from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Citizens Jmp lowered their price target on shares of AMERISAFE from $50.00 to $45.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. Finally, Wall Street Zen raised shares of AMERISAFE from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AMERISAFE currently has an average rating of “Hold” and a consensus target price of $44.00.

AMERISAFE Trading Up 1.8%

Shares of NASDAQ:AMSF opened at $30.61 on Monday. The company has a market capitalization of $567.51 million, a PE ratio of 12.34 and a beta of 0.23. AMERISAFE has a 12-month low of $29.42 and a 12-month high of $47.86. The business’s fifty day simple moving average is $32.28 and its 200-day simple moving average is $33.73.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings data on Tuesday, July 21st. The insurance provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). AMERISAFE had a return on equity of 14.87% and a net margin of 14.00%.The company had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $85.09 million. Research analysts predict that AMERISAFE will post 2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Auto Owners Insurance Co raised its stake in AMERISAFE by 3,741.0% in the fourth quarter. Auto Owners Insurance Co now owns 16,397,229 shares of the insurance provider’s stock valued at $62,982,000 after buying an additional 15,970,329 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in AMERISAFE by 55.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 696,095 shares of the insurance provider’s stock worth $26,737,000 after acquiring an additional 248,105 shares in the last quarter. Millennium Management LLC grew its stake in shares of AMERISAFE by 176.3% during the third quarter. Millennium Management LLC now owns 191,825 shares of the insurance provider’s stock worth $8,410,000 after acquiring an additional 122,387 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of AMERISAFE during the second quarter worth about $4,345,000. Finally, Marshall Wace LLP grew its stake in shares of AMERISAFE by 138.8% during the fourth quarter. Marshall Wace LLP now owns 164,648 shares of the insurance provider’s stock worth $6,324,000 after acquiring an additional 95,687 shares during the last quarter. 97.41% of the stock is owned by institutional investors and hedge funds.

AMERISAFE Company Profile

Amerisafe, Inc (NASDAQ: AMSF) is a specialty provider of workers’ compensation insurance products and services in the United States. The company focuses on underwriting and managing workers’ compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety.

In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services.