Renaissance Technologies LLC Boosts Holdings in AMERISAFE, Inc. (NASDAQ:AMSF)

Renaissance Technologies LLC lifted its position in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,600 shares of the insurance provider’s stock after purchasing an additional 18,300 shares during the period. Renaissance Technologies LLC owned about 1.00% of AMERISAFE worth $8,365,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC boosted its position in AMERISAFE by 22.0% in the 1st quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider’s stock valued at $104,000 after buying an additional 376 shares during the last quarter. SG Americas Securities LLC purchased a new position in AMERISAFE in the first quarter valued at about $154,000. PNC Financial Services Group Inc. boosted its holdings in AMERISAFE by 26.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,901 shares of the insurance provider’s stock valued at $182,000 after purchasing an additional 828 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of AMERISAFE in the 1st quarter valued at approximately $253,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of AMERISAFE by 209.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,508 shares of the insurance provider’s stock valued at $276,000 after buying an additional 3,730 shares during the last quarter. 97.41% of the stock is owned by institutional investors and hedge funds.

AMERISAFE Stock Down 0.7 %

Shares of AMERISAFE stock opened at $47.85 on Wednesday. The business has a 50-day moving average price of $48.29 and a 200 day moving average price of $47.05. AMERISAFE, Inc. has a fifty-two week low of $41.97 and a fifty-two week high of $54.80. The firm has a market cap of $915.61 million, a P/E ratio of 14.91 and a beta of 0.34.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). AMERISAFE had a net margin of 18.46% and a return on equity of 16.38%. The firm had revenue of $75.83 million during the quarter, compared to the consensus estimate of $74.20 million. During the same quarter last year, the firm posted $0.73 earnings per share. As a group, equities research analysts anticipate that AMERISAFE, Inc. will post 2.4 earnings per share for the current year.

AMERISAFE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.09%. AMERISAFE’s dividend payout ratio (DPR) is 46.11%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMSF. StockNews.com upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and set a $65.00 price objective on shares of AMERISAFE in a report on Tuesday, July 30th.

About AMERISAFE

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.