AMERISAFE, Inc. (NASDAQ:AMSF – Get Rating) was the recipient of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 179,700 shares, a decrease of 23.1% from the May 15th total of 233,700 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 85,700 shares, the short-interest ratio is presently 2.1 days.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. TheStreet lowered shares of AMERISAFE from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. Janney Montgomery Scott assumed coverage on shares of AMERISAFE in a report on Friday, February 24th. They set a “neutral” rating and a $58.00 target price on the stock. Finally, StockNews.com assumed coverage on shares of AMERISAFE in a report on Thursday, May 18th. They set a “hold” rating on the stock.
AMERISAFE Stock Performance
AMSF stock opened at $52.77 on Thursday. The firm has a market cap of $1.01 billion, a P/E ratio of 18.26 and a beta of 0.34. The firm’s fifty day moving average is $53.48 and its 200 day moving average is $52.79. AMERISAFE has a 52 week low of $44.72 and a 52 week high of $60.49.
AMERISAFE (NASDAQ:AMSF – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.17. The business had revenue of $76.81 million during the quarter, compared to analysts’ expectations of $74.46 million. AMERISAFE had a net margin of 18.68% and a return on equity of 16.87%. As a group, analysts forecast that AMERISAFE will post 2.91 EPS for the current year.
AMERISAFE Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 16th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $1.36 annualized dividend and a yield of 2.58%. AMERISAFE’s payout ratio is currently 47.06%.
Institutional Investors Weigh In On AMERISAFE
Several institutional investors have recently added to or reduced their stakes in AMSF. Raymond James & Associates boosted its position in AMERISAFE by 11.8% during the 1st quarter. Raymond James & Associates now owns 40,399 shares of the insurance provider’s stock valued at $2,007,000 after buying an additional 4,271 shares during the period. Bank of New York Mellon Corp lifted its position in shares of AMERISAFE by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 225,721 shares of the insurance provider’s stock worth $11,211,000 after purchasing an additional 2,010 shares during the period. Citigroup Inc. lifted its position in shares of AMERISAFE by 10.1% in the 1st quarter. Citigroup Inc. now owns 18,842 shares of the insurance provider’s stock worth $936,000 after purchasing an additional 1,725 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of AMERISAFE by 11.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the insurance provider’s stock worth $217,000 after purchasing an additional 444 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of AMERISAFE by 55.2% in the 1st quarter. MetLife Investment Management LLC now owns 10,751 shares of the insurance provider’s stock worth $534,000 after purchasing an additional 3,824 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.
AMERISAFE Company Profile
AMERISAFE, Inc engages the provision of workers’ compensation insurance focused on small to mid-sized employers. The firm covers the construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime industries. The company was founded by Millard E. Morris in 1985 and is headquartered in DeRidder, LA.