Corebridge Financial Inc. Sells 791 Shares of AMERISAFE, Inc. (NASDAQ:AMSF)

Corebridge Financial Inc. decreased its holdings in AMERISAFE, Inc. (NASDAQ:AMSF) by 7.2% in the fourth quarter, Holdings Channel reports. The fund owned 10,143 shares of the insurance provider’s stock after selling 791 shares during the quarter. Corebridge Financial Inc.’s holdings in AMERISAFE were worth $523,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of AMERISAFE by 63.4% in the 4th quarter. GAMMA Investing LLC now owns 1,343 shares of the insurance provider’s stock valued at $69,000 after purchasing an additional 521 shares during the last quarter. R Squared Ltd bought a new position in shares of AMERISAFE during the 4th quarter valued at approximately $99,000. KLP Kapitalforvaltning AS purchased a new stake in AMERISAFE during the 4th quarter valued at $180,000. Virtu Financial LLC bought a new stake in AMERISAFE in the third quarter worth $200,000. Finally, Versor Investments LP purchased a new position in AMERISAFE during the fourth quarter worth $205,000. Hedge funds and other institutional investors own 97.41% of the company’s stock.

AMERISAFE Trading Up 1.2 %

Shares of AMSF opened at $48.57 on Wednesday. The company’s fifty day simple moving average is $50.70 and its 200-day simple moving average is $52.17. The company has a market cap of $925.26 million, a P/E ratio of 15.18 and a beta of 0.34. AMERISAFE, Inc. has a twelve month low of $41.97 and a twelve month high of $60.24.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings data on Wednesday, February 26th. The insurance provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. AMERISAFE had a net margin of 19.49% and a return on equity of 16.50%. The company had revenue of $73.51 million for the quarter, compared to analyst estimates of $77.37 million. Analysts predict that AMERISAFE, Inc. will post 2.45 earnings per share for the current fiscal year.

AMERISAFE Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.56 annualized dividend and a dividend yield of 3.21%. AMERISAFE’s payout ratio is 53.98%.

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.