AMERISAFE’s (AMSF) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of AMERISAFE (NASDAQ:AMSF) in a research note released on Monday morning, Benzinga reports. They currently have a $65.00 target price on the insurance provider’s stock.

Separately, TheStreet upgraded shares of AMERISAFE from a c+ rating to a b- rating in a research note on Monday, March 4th.

AMERISAFE Price Performance

Shares of AMERISAFE stock opened at $48.65 on Monday. The firm has a market capitalization of $931.16 million, a PE ratio of 15.06 and a beta of 0.32. The company’s fifty day moving average price is $50.20 and its two-hundred day moving average price is $49.58. AMERISAFE has a 52-week low of $45.34 and a 52-week high of $57.06.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.08. The firm had revenue of $73.88 million for the quarter, compared to analyst estimates of $75.15 million. AMERISAFE had a net margin of 20.24% and a return on equity of 17.19%. Analysts predict that AMERISAFE will post 2.47 earnings per share for the current fiscal year.

AMERISAFE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from AMERISAFE’s previous quarterly dividend of $0.34. AMERISAFE’s payout ratio is currently 45.82%.

Institutional Investors Weigh In On AMERISAFE

Institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in shares of AMERISAFE in the 3rd quarter valued at $32,000. Point72 Hong Kong Ltd acquired a new position in AMERISAFE during the 2nd quarter worth about $35,000. Gladius Capital Management LP acquired a new position in AMERISAFE during the 3rd quarter worth about $34,000. Qube Research & Technologies Ltd acquired a new position in AMERISAFE during the 3rd quarter worth about $41,000. Finally, Point72 Middle East FZE acquired a new position in AMERISAFE during the 4th quarter worth about $48,000. Institutional investors and hedge funds own 97.41% of the company’s stock.

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.