Amalgamated Bank Trims Stake in AMERISAFE, Inc. (NASDAQ:AMSF)

Amalgamated Bank cut its position in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,646 shares of the insurance provider’s stock after selling 186 shares during the period. Amalgamated Bank’s holdings in AMERISAFE were worth $273,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Diversified Trust Co lifted its stake in AMERISAFE by 3.8% in the third quarter. Diversified Trust Co now owns 8,916 shares of the insurance provider’s stock worth $431,000 after purchasing an additional 325 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of AMERISAFE by 22.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 376 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of AMERISAFE by 97.1% during the 3rd quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 405 shares during the last quarter. Inspire Investing LLC boosted its holdings in AMERISAFE by 5.7% during the 3rd quarter. Inspire Investing LLC now owns 8,503 shares of the insurance provider’s stock valued at $411,000 after acquiring an additional 461 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in AMERISAFE in the 3rd quarter valued at $28,000. 97.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMSF shares. Truist Financial lifted their target price on AMERISAFE from $48.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. JMP Securities reiterated a “market outperform” rating and set a $65.00 price objective on shares of AMERISAFE in a report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.

AMERISAFE Trading Down 0.0 %

AMSF opened at $58.28 on Monday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.21 and a beta of 0.33. AMERISAFE, Inc. has a 12-month low of $41.97 and a 12-month high of $60.24. The business’s fifty day simple moving average is $51.62 and its 200-day simple moving average is $47.99.

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. The company had revenue of $78.70 million for the quarter, compared to analysts’ expectations of $75.38 million. AMERISAFE had a net margin of 19.49% and a return on equity of 16.50%. During the same period in the prior year, the business earned $0.61 EPS. On average, equities research analysts predict that AMERISAFE, Inc. will post 2.45 EPS for the current year.

AMERISAFE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 6th will be issued a dividend of $3.37 per share. This represents a $13.48 annualized dividend and a yield of 23.13%. This is a positive change from AMERISAFE’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 6th. AMERISAFE’s dividend payout ratio (DPR) is presently 46.25%.

AMERISAFE 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.