S&T Bank PA Trims Stock Position in AMERISAFE, Inc. $AMSF

S&T Bank PA cut its holdings in AMERISAFE, Inc. (NASDAQ:AMSF) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,844 shares of the insurance provider’s stock after selling 7,768 shares during the quarter. AMERISAFE makes up approximately 1.6% of S&T Bank PA’s portfolio, making the stock its 23rd largest holding. S&T Bank PA owned 0.65% of AMERISAFE worth $5,372,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMSF. Signaturefd LLC increased its position in AMERISAFE by 170.5% during the second quarter. Signaturefd LLC now owns 779 shares of the insurance provider’s stock worth $34,000 after buying an additional 491 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of AMERISAFE by 301.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,554 shares of the insurance provider’s stock worth $82,000 after purchasing an additional 1,167 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in shares of AMERISAFE during the 2nd quarter worth about $113,000. R Squared Ltd grew its holdings in shares of AMERISAFE by 144.2% during the first quarter. R Squared Ltd now owns 4,696 shares of the insurance provider’s stock worth $247,000 after buying an additional 2,773 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of AMERISAFE in the first quarter valued at approximately $296,000. Hedge funds and other institutional investors own 97.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of AMERISAFE from $54.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, July 28th. Weiss Ratings restated a “hold (c)” rating on shares of AMERISAFE in a report on Wednesday, October 8th. Wall Street Zen upgraded AMERISAFE from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Citigroup reiterated a “market outperform” rating on shares of AMERISAFE in a research report on Thursday, October 30th. Finally, JMP Securities cut their price objective on shares of AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

AMERISAFE Stock Performance

AMSF opened at $40.06 on Friday. AMERISAFE, Inc. has a 1 year low of $39.09 and a 1 year high of $60.24. The firm has a 50 day moving average price of $42.85 and a 200 day moving average price of $44.71. The company has a market cap of $758.10 million, a PE ratio of 15.35 and a beta of 0.33.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. AMERISAFE had a net margin of 16.12% and a return on equity of 17.16%. The firm had revenue of $81.98 million for the quarter, compared to analysts’ expectations of $78.29 million. On average, sell-side analysts predict that AMERISAFE, Inc. will post 2.45 earnings per share for the current year.

AMERISAFE Announces Dividend

The business also recently announced a special dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, December 5th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a dividend yield of 394.0%. AMERISAFE’s dividend payout ratio is presently 59.77%.

AMERISAFE 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.