State Street Corp Grows Holdings in AMERISAFE, Inc. (NASDAQ:AMSF)

State Street Corp increased its stake in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 811,561 shares of the insurance provider’s stock after purchasing an additional 63,638 shares during the period. State Street Corp owned 4.26% of AMERISAFE worth $39,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. lifted its holdings in 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 buying an additional 83,438 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AMERISAFE by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 639,996 shares of the insurance provider’s stock worth $30,931,000 after purchasing an additional 14,104 shares during the last quarter. M&G PLC boosted its holdings in AMERISAFE by 1.9% in the third quarter. M&G PLC now owns 461,070 shares of the insurance provider’s stock valued at $22,131,000 after purchasing an additional 8,378 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in AMERISAFE by 5.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 315,409 shares of the insurance provider’s stock valued at $13,843,000 after purchasing an additional 15,196 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in AMERISAFE by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 283,307 shares of the insurance provider’s stock worth $12,434,000 after purchasing an additional 3,719 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AMSF shares. 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. JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price objective on shares of AMERISAFE in a report on Tuesday, October 15th.

AMERISAFE Trading Up 1.6 %

AMSF stock opened at $52.47 on Friday. The company has a market capitalization of $999.55 million, a P/E ratio of 16.40 and a beta of 0.33. The business has a 50 day simple moving average of $55.47 and a 200-day simple moving average of $49.78. AMERISAFE, Inc. has a twelve month low of $41.97 and a twelve month high of $60.24.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $78.70 million during 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 quarter in the prior year, the business earned $0.61 EPS. Research analysts predict that AMERISAFE, Inc. will post 2.45 EPS for the current fiscal year.

AMERISAFE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were paid a dividend of $3.37 per share. The ex-dividend date of this dividend was Friday, December 6th. This is an increase from AMERISAFE’s previous quarterly dividend of $0.37. This represents a $13.48 annualized dividend and a yield of 25.69%. AMERISAFE’s dividend payout ratio is currently 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.