Geode Capital Management LLC Boosts Stock Position in AMERISAFE, Inc. (NASDAQ:AMSF)

Geode Capital Management LLC lifted its holdings in AMERISAFE, Inc. (NASDAQ:AMSF) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 453,539 shares of the insurance provider’s stock after purchasing an additional 6,166 shares during the quarter. Geode Capital Management LLC’s holdings in AMERISAFE were worth $21,924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado grew its holdings in shares of AMERISAFE by 5.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 315,409 shares of the insurance provider’s stock valued at $13,843,000 after purchasing an additional 15,196 shares in the last quarter. State Street Corp grew its holdings in shares of AMERISAFE by 8.5% in the third quarter. State Street Corp now owns 811,561 shares of the insurance provider’s stock valued at $39,223,000 after purchasing an additional 63,638 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of AMERISAFE by 70.6% in the third quarter. Jane Street Group LLC now owns 41,299 shares of the insurance provider’s stock valued at $1,996,000 after purchasing an additional 17,084 shares in the last quarter. Intech Investment Management LLC bought a new stake in AMERISAFE in the second quarter worth $591,000. Finally, BNP Paribas Financial Markets boosted its stake in AMERISAFE by 6.9% during the third quarter. BNP Paribas Financial Markets now owns 5,882 shares of the insurance provider’s stock worth $284,000 after buying an additional 381 shares during the period. 97.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMSF shares. Truist Financial boosted their price objective on shares of AMERISAFE from $48.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, October 25th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of AMERISAFE in a research note on Tuesday, October 15th.

AMERISAFE Price Performance

Shares of NASDAQ AMSF opened at $51.63 on Friday. The company has a market cap of $983.55 million, a P/E ratio of 16.13 and a beta of 0.33. AMERISAFE, Inc. has a 1 year low of $41.97 and a 1 year high of $60.24. The firm has a 50-day simple moving average of $55.60 and a two-hundred day simple moving average of $50.08.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The business 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. As a group, equities research analysts expect that AMERISAFE, Inc. will post 2.45 EPS for the current year.

AMERISAFE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were paid a $3.37 dividend. The ex-dividend date was Friday, December 6th. This represents a $13.48 annualized dividend and a yield of 26.11%. This is an increase from AMERISAFE’s previous quarterly dividend of $0.37. AMERISAFE’s dividend payout ratio (DPR) is presently 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.