Procyon Advisors LLC Sells 1,501 Shares of AMERISAFE, Inc. (NASDAQ:AMSF)

Procyon Advisors LLC decreased its holdings in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,265 shares of the insurance provider’s stock after selling 1,501 shares during the period. Procyon Advisors LLC’s holdings in AMERISAFE were worth $323,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AMSF. Public Employees Retirement Association of Colorado boosted its holdings in shares of AMERISAFE by 5.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 315,409 shares of the insurance provider’s stock worth $13,843,000 after buying an additional 15,196 shares in the last quarter. State Street Corp increased its stake in 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. Barclays PLC boosted its position in shares of AMERISAFE by 365.6% during the 3rd quarter. Barclays PLC now owns 33,219 shares of the insurance provider’s stock worth $1,605,000 after purchasing an additional 26,084 shares in the last quarter. Jane Street Group LLC raised its stake in AMERISAFE by 70.6% during the 3rd quarter. Jane Street Group LLC now owns 41,299 shares of the insurance provider’s stock worth $1,996,000 after buying an additional 17,084 shares during the period. Finally, Intech Investment Management LLC bought a new position in AMERISAFE in the second quarter worth approximately $591,000. Institutional investors and hedge funds own 97.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMSF. Truist Financial upped their target price 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 reaffirmed a “market outperform” rating and issued a $65.00 price objective on shares of AMERISAFE in a research note on Tuesday, October 15th.

AMERISAFE Stock Down 0.8 %

Shares of NASDAQ:AMSF opened at $51.09 on Monday. The business’s 50 day moving average is $54.38 and its 200 day moving average is $50.98. AMERISAFE, Inc. has a 12-month low of $41.97 and a 12-month high of $60.24. The stock has a market cap of $973.26 million, a price-to-earnings ratio of 15.97 and a beta of 0.35.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $75.38 million. During the same period in the previous year, the firm earned $0.61 EPS. As a group, equities research analysts expect that AMERISAFE, Inc. will post 2.45 earnings per share for the current year.

AMERISAFE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were given a $3.37 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $13.48 annualized dividend and a yield of 26.38%. This is a boost from AMERISAFE’s previous quarterly dividend of $0.37. AMERISAFE’s payout ratio is currently 46.25%.

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.