Martingale Asset Management L P Grows Stake in AMERISAFE, Inc. (NASDAQ:AMSF)

Martingale Asset Management L P lifted its position in AMERISAFE, Inc. (NASDAQ:AMSF) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,294 shares of the insurance provider’s stock after buying an additional 1,200 shares during the period. Martingale Asset Management L P owned approximately 0.12% of AMERISAFE worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. purchased a new position in shares of AMERISAFE in the 3rd quarter worth $28,000. Quarry LP raised its holdings in AMERISAFE by 1,028.4% in the 2nd quarter. Quarry LP now owns 756 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 689 shares during the period. GAMMA Investing LLC raised its holdings in AMERISAFE by 97.1% in the 3rd quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 405 shares during the period. Point72 DIFC Ltd bought a new position in AMERISAFE in the 2nd quarter worth $100,000. Finally, Virtu Financial LLC bought a new position in AMERISAFE in the 1st quarter worth $253,000. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

AMERISAFE Stock Up 0.5 %

NASDAQ:AMSF opened at $59.02 on Monday. The business’s 50-day simple moving average is $53.61 and its two-hundred day simple moving average is $48.79. The stock has a market cap of $1.12 billion, a PE ratio of 18.44 and a beta of 0.33. AMERISAFE, Inc. has a 52 week low of $41.97 and a 52 week high of $60.24.

AMERISAFE (NASDAQ:AMSF) last issued its earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. AMERISAFE had a return on equity of 16.50% and a net margin of 19.49%. The firm had revenue of $78.70 million for the quarter, compared to analysts’ expectations of $75.38 million. During the same period in the previous year, the firm posted $0.61 earnings per share. Sell-side analysts anticipate that AMERISAFE, Inc. will post 2.45 earnings per share for the current fiscal year.

AMERISAFE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be issued a $3.37 dividend. This represents a $13.48 annualized dividend and a dividend yield of 22.84%. This is a boost from AMERISAFE’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 6th. AMERISAFE’s payout ratio is 46.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AMSF shares. Truist Financial raised their target price on AMERISAFE from $48.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, October 25th. StockNews.com raised AMERISAFE from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, JMP Securities reissued a “market outperform” rating and set a $65.00 price target on shares of AMERISAFE in a report on Tuesday, October 15th.

AMERISAFE Company Profile

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.