AMERISAFE (NASDAQ:AMSF) Stock Price Target Lowered at Truist Financial

AMERISAFE (NASDAQ:AMSF) had its target price dropped by equities researchers at Truist Financial from $32.00 to $27.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the insurance provider’s stock. Truist Financial’s price target indicates a potential upside of 8.17% from the stock’s current price.

AMSF has been the subject of a number of other reports. Morgan Stanley set a $40.00 price target on AMERISAFE in a report on Monday. Citizens Jmp decreased their target price on AMERISAFE from $42.00 to $40.00 and set a “market outperform” rating on the stock in a report on Monday. Wall Street Zen upgraded AMERISAFE from a “sell” rating to a “hold” rating in a report on Monday. Weiss Ratings lowered AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, Zacks Research raised shares of AMERISAFE from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.67.

AMERISAFE Stock Up 2.3%

Shares of AMSF stock opened at $24.96 on Tuesday. AMERISAFE has a 12 month low of $23.20 and a 12 month high of $42.22. The company has a market cap of $462.76 million, a PE ratio of 10.06 and a beta of 0.24. The business’s 50 day moving average is $25.67 and its two-hundred day moving average is $29.81.

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). The firm had revenue of $91.97 million during the quarter, compared to analyst estimates of $85.09 million. AMERISAFE had a return on equity of 14.87% and a net margin of 14.00%. As a group, equities analysts expect that AMERISAFE will post 1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On AMERISAFE

Several hedge funds have recently bought and sold shares of AMSF. Auto Owners Insurance Co increased its holdings in shares of 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 worth $62,982,000 after acquiring an additional 15,970,329 shares in the last quarter. BlackRock Inc. bought a new position in shares of AMERISAFE during the 2nd quarter valued at about $122,167,000. Bank of America Corp DE grew its position in shares of AMERISAFE by 6.7% in 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 stake in AMERISAFE by 19.3% during the 1st quarter. Renaissance Technologies LLC now owns 261,375 shares of the insurance provider’s stock worth $8,712,000 after purchasing an additional 42,375 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in AMERISAFE by 125.0% during the 1st quarter. Sei Investments Co. now owns 138,584 shares of the insurance provider’s stock worth $4,619,000 after buying an additional 76,989 shares during the period. 97.41% of the stock is currently owned by institutional investors and hedge funds.

About AMERISAFE

AMERISAFE, Inc (NASDAQ: AMSF) is a specialty workers’ compensation insurance company serving small and midsize employers in industries with elevated workplace risks. The company provides coverage designed to help businesses manage the costs associated with work-related injuries and occupational illnesses.

Its primary markets include construction, trucking, logging, agriculture, maritime operations, oil and gas, and other hazardous industries. In addition to insurance coverage, AMERISAFE emphasizes workplace safety, risk management, claims handling and return-to-work support to help policyholders reduce accidents and manage employee injuries.

Headquartered in DeRidder, Louisiana, AMERISAFE has historically focused on selected U.S.