Short Interest in AMERISAFE, Inc. (NASDAQ:AMSF) Rises By 13.7%

AMERISAFE, Inc. (NASDAQ:AMSF) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 172,700 shares, an increase of 13.7% from the November 30th total of 151,900 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 125,400 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMSF shares. Truist Financial increased their target price on shares of AMERISAFE from $48.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, October 25th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price objective on shares of AMERISAFE in a research report on Tuesday, October 15th.

AMERISAFE Trading Down 0.5 %

NASDAQ:AMSF opened at $51.35 on Tuesday. The company has a 50-day moving average price of $55.61 and a 200-day moving average price of $50.24. The stock has a market cap of $978.22 million, a price-to-earnings ratio of 16.05 and a beta of 0.33. AMERISAFE has a 12 month low of $41.97 and a 12 month high of $60.24.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $0.58 EPS for the quarter, topping the consensus estimate 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 business posted $0.61 earnings per share. Equities analysts forecast that AMERISAFE will post 2.45 EPS for the current fiscal year.

AMERISAFE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, December 6th were paid a $3.37 dividend. This represents a $13.48 annualized dividend and a yield of 26.25%. This is a boost 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%.

Hedge Funds Weigh In On AMERISAFE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of AMERISAFE by 8.5% in the 3rd quarter. State Street Corp now owns 811,561 shares of the insurance provider’s stock worth $39,223,000 after purchasing an additional 63,638 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in AMERISAFE by 13.5% during the second quarter. Westwood Holdings Group Inc. now owns 701,806 shares of the insurance provider’s stock valued at $30,802,000 after buying an additional 83,438 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in AMERISAFE by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,996 shares of the insurance provider’s stock worth $30,931,000 after acquiring an additional 14,104 shares in the last quarter. M&G PLC grew its stake in shares of AMERISAFE by 1.9% in the third quarter. M&G PLC now owns 461,070 shares of the insurance provider’s stock worth $22,131,000 after acquiring an additional 8,378 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of AMERISAFE by 1.4% during the third quarter. Geode Capital Management LLC now owns 453,539 shares of the insurance provider’s stock valued at $21,924,000 after acquiring an additional 6,166 shares in the last quarter. Hedge funds and other institutional investors 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.