AMERISAFE (NASDAQ:AMSF) Reaches New 12-Month High – Should You Buy?

AMERISAFE, Inc. (NASDAQ:AMSF)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $60.24 and last traded at $59.22, with a volume of 12932 shares. The stock had previously closed at $59.52.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMSF shares. StockNews.com upgraded AMERISAFE from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial upped their target price on shares of AMERISAFE from $48.00 to $54.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, JMP Securities restated a “market outperform” rating and set a $65.00 price objective on shares of AMERISAFE in a research report on Tuesday, October 15th.

AMERISAFE Trading Up 0.2 %

The firm has a 50-day moving average of $50.83 and a two-hundred day moving average of $47.62. The firm has a market capitalization of $1.14 billion, a P/E ratio of 18.64 and a beta of 0.33.

AMERISAFE (NASDAQ:AMSF) last released its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The firm had revenue of $78.70 million during the quarter, compared to the consensus estimate of $75.38 million. AMERISAFE had a net margin of 19.49% and a return on equity of 16.50%. During the same quarter last year, the firm earned $0.61 earnings per share. On average, sell-side analysts anticipate that AMERISAFE, Inc. will post 2.45 EPS for the current fiscal year.

AMERISAFE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be paid a $3.37 dividend. This represents a $13.48 dividend on an annualized basis and a dividend yield of 22.59%. This is an increase from AMERISAFE’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 6th. AMERISAFE’s payout ratio is currently 46.25%.

Institutional Investors Weigh In On AMERISAFE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in AMERISAFE by 8.5% during the first quarter. Vanguard Group Inc. now owns 1,472,739 shares of the insurance provider’s stock worth $73,887,000 after buying an additional 115,676 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of AMERISAFE by 12.8% during the first quarter. Champlain Investment Partners LLC now owns 855,916 shares of the insurance provider’s stock valued at $42,941,000 after acquiring an additional 97,280 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in AMERISAFE by 13.5% during the second quarter. Westwood Holdings Group Inc. now owns 701,806 shares of the insurance provider’s stock worth $30,802,000 after acquiring an additional 83,438 shares during the period. Charles Schwab Investment Management Inc. grew its stake in AMERISAFE by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,996 shares of the insurance provider’s stock valued at $30,931,000 after purchasing an additional 14,104 shares during the period. Finally, M&G Plc purchased a new stake in shares of AMERISAFE during the 1st quarter valued at $23,251,000. 97.41% of the stock is owned by institutional investors.

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.