California State Teachers Retirement System Has $1.78 Million Stake in AMERISAFE, Inc. (AMSF)
California State Teachers Retirement System decreased its position in AMERISAFE, Inc. (NASDAQ:AMSF) by 9.8% in the third quarter, Holdings Channel reports. The fund owned 30,564 shares of the insurance provider’s stock after selling 3,305 shares during the period. California State Teachers Retirement System’s holdings in AMERISAFE were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Flinton Capital Management LLC raised its stake in AMERISAFE by 53.7% in the 2nd quarter. Flinton Capital Management LLC now owns 2,142 shares of the insurance provider’s stock worth $122,000 after acquiring an additional 748 shares during the last quarter. Pinebridge Investments L.P. raised its stake in AMERISAFE by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,534 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 26 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in AMERISAFE in the 3rd quarter worth $227,000. Piedmont Investment Advisors LLC purchased a new position in AMERISAFE in the 2nd quarter worth $237,000. Finally, Suntrust Banks Inc. raised its stake in AMERISAFE by 5.3% in the 2nd quarter. Suntrust Banks Inc. now owns 4,450 shares of the insurance provider’s stock worth $252,000 after acquiring an additional 225 shares during the last quarter.
In other AMERISAFE news, CEO G. Janelle Frost sold 1,728 shares of AMERISAFE stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $66.74, for a total transaction of $115,326.72. Following the completion of the transaction, the chief executive officer now owns 54,322 shares in the company, valued at approximately $3,625,450.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.20% of the company’s stock.
AMERISAFE (NASDAQ:AMSF) last released its quarterly earnings data on Wednesday, October 25th. The insurance provider reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.08. The business had revenue of $92.90 million during the quarter, compared to analyst estimates of $92.04 million. AMERISAFE had a return on equity of 13.92% and a net margin of 17.07%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. analysts expect that AMERISAFE, Inc. will post 3.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. AMERISAFE’s payout ratio is currently 23.81%.
A number of equities analysts recently issued reports on the company. Boenning Scattergood restated a “hold” rating on shares of AMERISAFE in a research note on Thursday, October 26th. FBR & Co reiterated a “buy” rating on shares of AMERISAFE in a research note on Wednesday, October 25th. B. Riley reiterated a “buy” rating on shares of AMERISAFE in a research note on Monday, November 6th. BidaskClub lowered AMERISAFE from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, SunTrust Banks reiterated a “buy” rating and set a $69.00 price objective on shares of AMERISAFE in a research note on Friday, October 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $66.00.
Amerisafe, Inc is an insurance holding company. The Company is engaged in providing workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, and agriculture. It is engaged in underwriting the workers’ compensation exposures inherent in these industries.
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