Amerisafe (AMSF) Downgraded to “Hold” at BidaskClub

Amerisafe (NASDAQ:AMSF) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, January 10th.

A number of other research analysts also recently issued reports on the stock. B. Riley restated a “buy” rating on shares of Amerisafe in a research report on Monday, November 6th. SunTrust Banks reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Amerisafe in a report on Friday, October 27th. Boenning Scattergood reaffirmed a “hold” rating on shares of Amerisafe in a report on Thursday, October 26th. FBR & Co reaffirmed a “buy” rating on shares of Amerisafe in a report on Wednesday, October 25th. Finally, Zacks Investment Research raised shares of Amerisafe from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Monday, September 18th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $66.00.

Amerisafe (AMSF) traded up $0.60 during trading on Wednesday, hitting $62.00. 32,067 shares of the stock traded hands, compared to its average volume of 72,056. Amerisafe has a 52 week low of $51.20 and a 52 week high of $69.40. The firm has a market capitalization of $1,193.13, a price-to-earnings ratio of 18.45 and a beta of 0.88.

Amerisafe (NASDAQ:AMSF) last posted its quarterly earnings data on Wednesday, October 25th. The insurance provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.08. Amerisafe had a net margin of 17.86% and a return on equity of 13.62%. The firm had revenue of $92.90 million for the quarter, compared to the consensus estimate of $92.04 million. During the same period in the prior year, the firm posted $0.93 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. sell-side analysts anticipate that Amerisafe will post 3.22 earnings per share for the current year.

In other news, CEO G. Janelle Frost sold 1,728 shares of Amerisafe stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $66.74, for a total value of $115,326.72. Following the transaction, the chief executive officer now owns 54,322 shares of the company’s stock, valued at approximately $3,625,450.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. boosted its holdings in shares of Amerisafe by 64.6% in the third quarter. Sei Investments Co. now owns 18,335 shares of the insurance provider’s stock worth $1,068,000 after buying an additional 7,195 shares during the period. QS Investors LLC boosted its holdings in shares of Amerisafe by 244.7% during the second quarter. QS Investors LLC now owns 4,901 shares of the insurance provider’s stock worth $279,000 after purchasing an additional 3,479 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of Amerisafe by 41.4% during the second quarter. Mutual of America Capital Management LLC now owns 44,568 shares of the insurance provider’s stock worth $2,538,000 after purchasing an additional 13,054 shares during the period. Granite Investment Partners LLC boosted its holdings in shares of Amerisafe by 6.2% during the third quarter. Granite Investment Partners LLC now owns 187,372 shares of the insurance provider’s stock worth $10,905,000 after purchasing an additional 10,902 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Amerisafe by 10.3% during the third quarter. Fisher Asset Management LLC now owns 49,644 shares of the insurance provider’s stock worth $2,889,000 after purchasing an additional 4,626 shares during the period.

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About Amerisafe

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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