34,996 AMERISAFE, Inc. $AMSF Shares Sold by M&G PLC

M&G PLC cut its holdings in AMERISAFE, Inc. (NASDAQ:AMSF) by 16.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 181,029 shares of the insurance provider’s stock after selling 34,996 shares during the quarter. M&G PLC’s holdings in AMERISAFE were worth $4,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of AMERISAFE in the second quarter valued at about $1,344,000. Bank of America Corp DE grew its position in shares of AMERISAFE by 6.7% in the first 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 last quarter. Legal & General Group Plc acquired a new stake in shares of AMERISAFE in the second quarter valued at approximately $1,539,000. Bank of New York Mellon Corp purchased a new position in shares of AMERISAFE during the 2nd quarter worth approximately $3,583,000. Finally, Palisade Capital Management LP purchased a new position in shares of AMERISAFE during the 2nd quarter worth approximately $3,145,000. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

AMERISAFE Trading Up 1.3%

AMERISAFE stock opened at $19.89 on Wednesday. The stock has a 50-day moving average price of $24.05 and a 200 day moving average price of $30.36. AMERISAFE, Inc. has a 52 week low of $19.39 and a 52 week high of $42.10. The stock has a market cap of $368.62 million, a PE ratio of 9.25 and a beta of 0.23.

AMERISAFE (NASDAQ:AMSF) last released its earnings results on Wednesday, October 28th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). The firm had revenue of $79.81 million during the quarter, compared to analysts’ expectations of $84.72 million. AMERISAFE had a net margin of 12.10% and a return on equity of 14.15%. On average, equities analysts predict that AMERISAFE, Inc. will post 1.88 EPS for the current year.

AMERISAFE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.41 per share. The ex-dividend date is Friday, December 4th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 8.2%. AMERISAFE’s payout ratio is 76.28%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMSF. Truist Financial cut their price objective on AMERISAFE from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, October 30th. Citigroup reaffirmed a “market outperform” rating on shares of AMERISAFE in a research note on Monday, October 12th. Zacks Research cut AMERISAFE from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 4th. Citizens Jmp dropped their price target on AMERISAFE from $40.00 to $35.00 and set a “market outperform” rating for the company in a research report on Thursday, October 29th. Finally, Morgan Stanley set a $40.00 price target on AMERISAFE in a research report on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.33.

AMERISAFE Profile

AMERISAFE, Inc. is a specialty workers’ compensation insurance company serving small and midsized businesses. The company focuses on employers in industries with elevated workplace risks, including construction, trucking, logging, agriculture, manufacturing, and maritime operations. Through its insurance subsidiaries, AMERISAFE provides workers’ compensation coverage designed to protect businesses from costs associated with workplace injuries and occupational illnesses. Its services also include workplace safety and loss-control support, claims management, medical cost containment, and premium audit services.