Short Interest in AMERISAFE, Inc. (NASDAQ:AMSF) Decreases By 31.2%

AMERISAFE, Inc. (NASDAQ:AMSF) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 256,457 shares, a drop of 31.2% from the February 12th total of 372,998 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average trading volume of 184,460 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 184,460 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.4% of the company’s stock are sold short.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citizens Jmp lowered their price objective on shares of AMERISAFE from $60.00 to $55.00 and set a “market outperform” rating for the company in a research note on Friday, January 16th. Citigroup reissued a “market outperform” rating on shares of AMERISAFE in a research report on Friday, January 16th. Morgan Stanley set a $55.00 price target on AMERISAFE in a research report on Friday, January 16th. Truist Financial dropped their price target on AMERISAFE from $45.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, February 27th. Finally, Weiss Ratings lowered AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.67.

AMERISAFE Stock Down 0.2%

Shares of NASDAQ:AMSF traded down $0.07 during midday trading on Friday, reaching $32.85. The company’s stock had a trading volume of 174,548 shares, compared to its average volume of 185,891. The firm has a market capitalization of $617.58 million, a PE ratio of 13.30 and a beta of 0.37. AMERISAFE has a twelve month low of $32.00 and a twelve month high of $53.27. The stock has a fifty day moving average of $36.86 and a 200 day moving average of $39.90.

AMERISAFE (NASDAQ:AMSF) last posted its earnings results on Wednesday, February 25th. The insurance provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). The business had revenue of $81.59 million for the quarter, compared to analyst estimates of $80.05 million. AMERISAFE had a net margin of 14.86% and a return on equity of 15.89%. Sell-side analysts anticipate that AMERISAFE will post 2.45 earnings per share for the current fiscal year.

AMERISAFE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 13th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, March 13th. AMERISAFE’s dividend payout ratio is currently 63.16%.

Institutional Trading of AMERISAFE

A number of hedge funds have recently added to or reduced their stakes in the company. Auto Owners Insurance Co grew its position in shares of AMERISAFE by 3,741.0% in the fourth quarter. Auto Owners Insurance Co now owns 16,397,229 shares of the insurance provider’s stock valued at $62,982,000 after purchasing an additional 15,970,329 shares during the period. Goldman Sachs Group Inc. raised its position in shares of AMERISAFE by 55.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 696,095 shares of the insurance provider’s stock worth $26,737,000 after purchasing an additional 248,105 shares during the last quarter. Millennium Management LLC lifted its stake in AMERISAFE by 176.3% in the 3rd quarter. Millennium Management LLC now owns 191,825 shares of the insurance provider’s stock valued at $8,410,000 after buying an additional 122,387 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in AMERISAFE in the 4th quarter worth about $4,145,000. Finally, Qube Research & Technologies Ltd acquired a new stake in AMERISAFE in the 2nd quarter worth about $4,345,000. 97.41% of the stock is owned by hedge funds and other institutional investors.

About AMERISAFE

Amerisafe, Inc (NASDAQ: AMSF) is a specialty provider of workers’ compensation insurance products and services in the United States. The company focuses on underwriting and managing workers’ compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety.

In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services.