Geode Capital Management LLC Acquires 6,166 Shares of AMERISAFE, Inc. (NASDAQ:AMSF)

Geode Capital Management LLC lifted its holdings in AMERISAFE, Inc. (NASDAQ:AMSF) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 453,539 shares of the insurance provider’s stock after purchasing an additional 6,166 shares during the period. Geode Capital Management LLC owned about 2.38% of AMERISAFE worth $21,924,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. bought a new position in shares of AMERISAFE in the 3rd quarter worth approximately $28,000. Quarry LP raised its stake in AMERISAFE by 1,028.4% during the 2nd quarter. Quarry LP now owns 756 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 689 shares during the period. GAMMA Investing LLC raised its stake in 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 period. Point72 DIFC Ltd bought a new stake in AMERISAFE during the 2nd quarter worth approximately $100,000. Finally, BNP Paribas Financial Markets raised its stake in AMERISAFE by 6.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,882 shares of the insurance provider’s stock worth $284,000 after acquiring an additional 381 shares during the period. Institutional investors own 97.41% of the company’s stock.

AMERISAFE Price Performance

Shares of AMSF opened at $51.63 on Friday. AMERISAFE, Inc. has a 1 year low of $41.97 and a 1 year high of $60.24. The company has a 50 day simple moving average of $55.60 and a two-hundred day simple moving average of $50.08. The firm has a market cap of $983.55 million, a P/E ratio of 16.13 and a beta of 0.33.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. AMERISAFE had a net margin of 19.49% and a return on equity of 16.50%. The business had revenue of $78.70 million during the quarter, compared to analyst estimates of $75.38 million. During the same period last year, the firm posted $0.61 EPS. On average, sell-side analysts anticipate that AMERISAFE, Inc. will post 2.45 earnings per share for the current 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 issued a dividend of $3.37 per share. This is a positive change from AMERISAFE’s previous quarterly dividend of $0.37. This represents a $13.48 dividend on an annualized basis and a yield of 26.11%. The ex-dividend date was Friday, December 6th. AMERISAFE’s dividend payout ratio (DPR) is 46.25%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JMP Securities restated a “market outperform” rating and set a $65.00 target price on shares of AMERISAFE in a research note on Tuesday, October 15th. Truist Financial raised their target price on shares of AMERISAFE from $48.00 to $54.00 and gave the stock a “hold” rating in a research note 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.