UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in AMERISAFE, Inc. (NASDAQ:AMSF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in AMERISAFE, Inc. (NASDAQ:AMSF) by 19.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,924 shares of the insurance provider’s stock after selling 9,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of AMERISAFE worth $1,785,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Granite Investment Partners LLC increased its holdings in shares of AMERISAFE by 136.0% in the 2nd quarter. Granite Investment Partners LLC now owns 147,654 shares of the insurance provider’s stock valued at $6,481,000 after acquiring an additional 85,089 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of AMERISAFE by 13.5% during the 2nd quarter. Westwood Holdings Group Inc. now owns 701,806 shares of the insurance provider’s stock worth $30,802,000 after purchasing an additional 83,438 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in AMERISAFE by 70.4% during the third quarter. Assenagon Asset Management S.A. now owns 114,088 shares of the insurance provider’s stock valued at $5,514,000 after purchasing an additional 47,131 shares in the last quarter. Millennium Management LLC grew its stake in AMERISAFE by 238.6% in the second quarter. Millennium Management LLC now owns 61,946 shares of the insurance provider’s stock valued at $2,719,000 after purchasing an additional 43,649 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in AMERISAFE in the third quarter worth about $2,107,000. Hedge funds and other institutional investors own 97.41% of the company’s stock.

AMERISAFE Stock Performance

Shares of AMSF stock opened at $53.70 on Monday. AMERISAFE, Inc. has a fifty-two week low of $41.97 and a fifty-two week high of $60.24. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.78 and a beta of 0.33. The stock’s 50-day simple moving average is $55.07 and its 200-day simple moving average is $49.51.

AMERISAFE (NASDAQ:AMSF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share 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 the consensus estimate of $75.38 million. AMERISAFE had a net margin of 19.49% and a return on equity of 16.50%. During the same quarter in the previous year, the firm earned $0.61 EPS. As a group, equities analysts forecast that AMERISAFE, Inc. will post 2.45 earnings per share for the current year.

AMERISAFE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, December 6th were given a $3.37 dividend. This represents a $13.48 annualized dividend and a dividend yield of 25.10%. This is an increase from AMERISAFE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, December 6th. AMERISAFE’s dividend payout ratio is presently 46.25%.

Analyst Ratings Changes

Several analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and set a $65.00 price target on shares of AMERISAFE in a research report on Tuesday, October 15th. Truist Financial increased their target price on shares of AMERISAFE from $48.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, October 25th.

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.