AMERISAFE (NASDAQ:AMSF) Stock Rating Raised to Hold at Zacks Research

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

Other analysts also recently issued research reports about the company. Wall Street Zen upgraded AMERISAFE from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings cut shares of AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Truist Financial lowered their price target on shares of AMERISAFE from $34.00 to $32.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AMERISAFE has a consensus rating of “Hold” and a consensus price target of $44.00.

AMERISAFE Trading Up 0.5%

AMSF opened at $23.87 on Monday. The company has a market cap of $442.55 million, a P/E ratio of 9.62 and a beta of 0.23. The business’s 50-day moving average price is $26.77 and its 200-day moving average price is $30.37. AMERISAFE has a 12 month low of $23.20 and a 12 month high of $43.99.

AMERISAFE (NASDAQ:AMSF) last released its earnings results 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). The company had revenue of $91.97 million during the quarter, compared to the consensus estimate of $85.09 million. AMERISAFE had a net margin of 14.00% and a return on equity of 14.87%. Equities research analysts forecast that AMERISAFE will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMERISAFE

Hedge funds have recently made changes to their positions in the business. Auto Owners Insurance Co raised its holdings in shares of AMERISAFE by 3,741.0% during 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 acquiring an additional 15,970,329 shares in the last quarter. BlackRock Inc. bought a new stake in AMERISAFE in the second quarter valued at $122,167,000. Bank of America Corp DE increased its position in AMERISAFE by 6.7% during the 1st quarter. Bank of America Corp DE now owns 623,697 shares of the insurance provider’s stock valued at $20,788,000 after purchasing an additional 39,168 shares during the period. Renaissance Technologies LLC increased its position in AMERISAFE by 19.3% during the 1st quarter. Renaissance Technologies LLC now owns 261,375 shares of the insurance provider’s stock valued at $8,712,000 after purchasing an additional 42,375 shares during the period. Finally, Sei Investments Co. increased its position in AMERISAFE by 125.0% during the 1st quarter. Sei Investments Co. now owns 138,584 shares of the insurance provider’s stock valued at $4,619,000 after purchasing an additional 76,989 shares during the period. 97.41% of the stock is owned by hedge funds and other institutional investors.

About AMERISAFE

AMERISAFE, Inc (NASDAQ: AMSF) is a specialty workers’ compensation insurance company headquartered in DeRidder, Louisiana. Through its insurance subsidiaries, the company provides workers’ compensation coverage to small and mid-sized employers whose operations involve relatively high workplace risks.

The company focuses on industries such as construction, trucking, logging, agriculture, manufacturing, oil and gas, and other hazardous occupations. Its services include workers’ compensation underwriting, claims administration, workplace safety and loss-control services, and premium auditing.

AMERISAFE primarily serves employers across the southeastern and other selected regions of the United States.