AMERISAFE, Inc. (NASDAQ:AMSF) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 6.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,210 shares of the insurance provider’s stock after selling 2,584 shares during the period. State of New Jersey Common Pension Fund D owned 0.21% of AMERISAFE worth $1,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. M&G PLC raised its position in AMERISAFE by 1.9% in the third quarter. M&G PLC now owns 461,070 shares of the insurance provider’s stock valued at $22,131,000 after purchasing an additional 8,378 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in AMERISAFE by 11.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,663 shares of the insurance provider’s stock valued at $564,000 after purchasing an additional 1,229 shares during the period. Assenagon Asset Management S.A. raised its position in AMERISAFE by 70.4% in the third quarter. Assenagon Asset Management S.A. now owns 114,088 shares of the insurance provider’s stock valued at $5,514,000 after purchasing an additional 47,131 shares during the period. Creative Planning raised its position in AMERISAFE by 93.3% in the third quarter. Creative Planning now owns 15,781 shares of the insurance provider’s stock valued at $763,000 after purchasing an additional 7,615 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in AMERISAFE in the third quarter valued at $28,000. Institutional investors and hedge funds own 97.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AMSF shares. StockNews.com upgraded AMERISAFE from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price objective on shares of AMERISAFE in a report on Tuesday, October 15th. Finally, Truist Financial boosted their price objective on AMERISAFE from $48.00 to $54.00 and gave the company a “hold” rating in a report on Friday, October 25th.

AMERISAFE Stock Down 0.0 %

AMSF opened at $58.28 on Monday. The business has a 50 day moving average price of $51.62 and a two-hundred day moving average price of $47.99. The company has a market cap of $1.11 billion, a PE ratio of 18.21 and a beta of 0.33. AMERISAFE, Inc. has a 52 week low of $41.97 and a 52 week high of $60.24.

AMERISAFE (NASDAQ:AMSF) last released its quarterly earnings data 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 return on equity of 16.50% and a net margin of 19.49%. The firm had revenue of $78.70 million during the quarter, compared to the consensus estimate of $75.38 million. During the same period last year, the business posted $0.61 EPS. As a group, sell-side analysts expect 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 issued a dividend of $3.37 per share. This is a boost from AMERISAFE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, December 6th. This represents a $13.48 annualized dividend and a dividend yield of 23.13%. AMERISAFE’s dividend payout ratio (DPR) is 46.25%.

AMERISAFE Company 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.