Martingale Asset Management L P Grows Stake in AMERISAFE, Inc. (NASDAQ:AMSF)

Martingale Asset Management L P increased its stake in AMERISAFE, Inc. (NASDAQ:AMSF) by 5.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 22,294 shares of the insurance provider’s stock after acquiring an additional 1,200 shares during the period. Martingale Asset Management L P’s holdings in AMERISAFE were worth $1,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMSF. Kathleen S. Wright Associates Inc. purchased a new position in AMERISAFE in the third quarter worth about $28,000. Quarry LP grew its position in AMERISAFE by 1,028.4% in the second quarter. Quarry LP now owns 756 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 689 shares in the last quarter. Isthmus Partners LLC grew its position in AMERISAFE by 14.4% in the second quarter. Isthmus Partners LLC now owns 76,870 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 9,672 shares in the last quarter. GAMMA Investing LLC grew its position in AMERISAFE by 97.1% in the third quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 405 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in AMERISAFE in the second quarter worth about $100,000. Hedge funds and other institutional investors own 97.41% of the company’s stock.

AMERISAFE Price Performance

Shares of NASDAQ:AMSF opened at $59.02 on Monday. AMERISAFE, Inc. has a 1 year low of $41.97 and a 1 year high of $60.24. The business has a 50 day simple moving average of $53.61 and a two-hundred day simple moving average of $48.79. The firm has a market capitalization of $1.12 billion, a PE ratio of 18.44 and a beta of 0.33.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share for the quarter, beating 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 firm had revenue of $78.70 million during the quarter, compared to the consensus estimate of $75.38 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Equities research analysts expect that AMERISAFE, Inc. will post 2.45 EPS for the current fiscal year.

AMERISAFE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be paid a dividend of $3.37 per share. This represents a $13.48 annualized dividend and a dividend yield of 22.84%. The ex-dividend date is Friday, December 6th. This is an increase from AMERISAFE’s previous quarterly dividend of $0.37. AMERISAFE’s payout ratio is currently 46.25%.

Analyst Ratings Changes

AMSF has been the subject of several recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price target on shares of AMERISAFE in a research report on Tuesday, October 15th. Truist Financial boosted their target price on AMERISAFE from $48.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded AMERISAFE from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

AMERISAFE Profile

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.