AMERISAFE (NASDAQ:AMSF) Hits New 1-Year High – Should You Buy?

AMERISAFE, Inc. (NASDAQ:AMSF) hit a new 52-week high on Tuesday . The company traded as high as $60.24 and last traded at $59.22, with a volume of 12932 shares changing hands. The stock had previously closed at $59.52.

Analysts Set New Price Targets

AMSF has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and set a $65.00 price objective on shares of AMERISAFE in a research note on Tuesday, October 15th. StockNews.com raised shares of AMERISAFE from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Truist Financial lifted their target price on AMERISAFE from $48.00 to $54.00 and gave the company a “hold” rating in a research note on Friday, October 25th.

AMERISAFE Stock Up 0.2 %

The firm has a market cap of $1.14 billion, a P/E ratio of 18.60 and a beta of 0.33. The firm’s 50-day moving average price is $50.83 and its 200 day moving average price is $47.62.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $78.70 million for the quarter, compared to analyst estimates of $75.38 million. AMERISAFE had a net margin of 19.49% and a return on equity of 16.50%. During the same quarter last year, the business earned $0.61 earnings per share. On average, equities analysts predict that AMERISAFE, Inc. will post 2.45 earnings per share for the current year.

AMERISAFE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be paid a $3.37 dividend. This is a boost from AMERISAFE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, December 6th. This represents a $13.48 annualized dividend and a dividend yield of 22.59%. AMERISAFE’s dividend payout ratio is presently 46.25%.

Institutional Investors Weigh In On AMERISAFE

A number of hedge funds and other institutional investors have recently modified their holdings of AMSF. Eagle Asset Management Inc. increased its stake in AMERISAFE by 2.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 186,898 shares of the insurance provider’s stock valued at $9,033,000 after buying an additional 4,129 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of AMERISAFE by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 639,996 shares of the insurance provider’s stock valued at $30,931,000 after acquiring an additional 14,104 shares during the period. Foundry Partners LLC lifted its position in AMERISAFE by 1.0% in the third quarter. Foundry Partners LLC now owns 70,160 shares of the insurance provider’s stock worth $3,391,000 after purchasing an additional 670 shares during the period. Intech Investment Management LLC increased its position in shares of AMERISAFE by 12.6% during the 3rd quarter. Intech Investment Management LLC now owns 15,167 shares of the insurance provider’s stock valued at $733,000 after purchasing an additional 1,698 shares during the period. Finally, Quest Partners LLC raised its stake in shares of AMERISAFE by 14.4% in the 3rd quarter. Quest Partners LLC now owns 17,178 shares of the insurance provider’s stock worth $830,000 after buying an additional 2,161 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors.

About AMERISAFE

AMERISAFE, Inc, an insurance holding company, underwrites workers’ compensation insurance in the United States. The company provides benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. It sells its products through retail and wholesale brokers and agents; and small and mid-sized employers engaged in hazardous industries, including construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime.