AMERISAFE (NASDAQ:AMSF) Releases Quarterly Earnings Results, Misses Estimates By $0.09 EPS

AMERISAFE (NASDAQ:AMSF) released its quarterly earnings results on Tuesday. The insurance provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.09), FiscalAI reports. The business had revenue of $91.97 million during the quarter, compared to analyst estimates of $85.09 million. AMERISAFE had a return on equity of 15.34% and a net margin of 14.27%.

AMERISAFE Stock Down 0.9%

NASDAQ:AMSF traded down $0.31 during trading hours on Tuesday, reaching $33.98. 141,482 shares of the stock were exchanged, compared to its average volume of 210,162. The firm has a 50 day simple moving average of $32.24 and a 200-day simple moving average of $34.03. AMERISAFE has a 52 week low of $29.42 and a 52 week high of $47.86. The stock has a market capitalization of $635.56 million, a P/E ratio of 13.98 and a beta of 0.23.

Institutional Investors Weigh In On AMERISAFE

Several institutional investors and hedge funds have recently made changes to their positions in AMSF. Neuberger Berman Group LLC boosted its holdings in AMERISAFE by 0.3% in the fourth quarter. Neuberger Berman Group LLC now owns 1,800,952 shares of the insurance provider’s stock worth $69,175,000 after purchasing an additional 6,175 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of AMERISAFE by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 843,539 shares of the insurance provider’s stock worth $32,400,000 after purchasing an additional 41,496 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of AMERISAFE by 55.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 696,095 shares of the insurance provider’s stock worth $26,737,000 after buying an additional 248,105 shares during the last quarter. Bank of America Corp DE lifted its position in shares of AMERISAFE by 8.4% in the 3rd quarter. Bank of America Corp DE now owns 658,682 shares of the insurance provider’s stock worth $28,877,000 after buying an additional 50,765 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of AMERISAFE by 0.9% in the 4th quarter. Millennium Management LLC now owns 193,628 shares of the insurance provider’s stock valued at $7,437,000 after buying an additional 1,803 shares during the period. 97.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMSF has been the topic of a number of recent analyst reports. Weiss Ratings raised AMERISAFE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Citizens Jmp decreased their price target on shares of AMERISAFE from $50.00 to $45.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. Truist Financial dropped their price target on shares of AMERISAFE from $36.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Finally, Wall Street Zen raised shares of AMERISAFE from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.67.

AMERISAFE Company Profile

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.