Victory Capital Management Inc. Cuts Stock Position in AMERISAFE, Inc. (NASDAQ:AMSF)

Victory Capital Management Inc. cut its holdings in AMERISAFE, Inc. (NASDAQ:AMSF) by 52.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 469,705 shares of the insurance provider’s stock after selling 526,100 shares during the quarter. Victory Capital Management Inc. owned 2.47% of AMERISAFE worth $22,701,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. bought a new stake in AMERISAFE in the third quarter worth $28,000. Quarry LP lifted 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 buying an additional 689 shares during the last quarter. GAMMA Investing LLC lifted 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 buying an additional 405 shares during the last quarter. EntryPoint Capital LLC lifted its position in AMERISAFE by 22.0% in the first quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider’s stock worth $104,000 after buying an additional 376 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in AMERISAFE in the second quarter worth $100,000. 97.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

AMERISAFE Trading Down 0.5 %

NASDAQ:AMSF opened at $57.96 on Tuesday. AMERISAFE, Inc. has a twelve month low of $41.97 and a twelve month high of $60.24. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 18.21 and a beta of 0.33. The stock has a fifty day simple moving average of $51.62 and a 200-day simple moving average of $48.00.

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 in the previous year, the company posted $0.61 earnings per share. As a group, equities research analysts predict 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. Investors of record on Friday, December 6th will be paid a $3.37 dividend. The ex-dividend date is Friday, December 6th. This is a positive change from AMERISAFE’s previous quarterly dividend of $0.37. This represents a $13.48 dividend on an annualized basis and a yield of 23.26%. AMERISAFE’s dividend payout ratio 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.