Wrapmanager Inc. Sells 1,718 Shares of AMERISAFE, Inc. (NASDAQ:AMSF)

Wrapmanager Inc. decreased its position in shares of AMERISAFE, Inc. (NASDAQ:AMSF) by 22.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,000 shares of the insurance provider’s stock after selling 1,718 shares during the period. Wrapmanager Inc.’s holdings in AMERISAFE were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. acquired a new position in AMERISAFE during the 3rd quarter worth about $28,000. Quarry LP grew its position in shares of AMERISAFE by 1,028.4% during the 2nd quarter. Quarry LP now owns 756 shares of the insurance provider’s stock worth $33,000 after buying an additional 689 shares during the period. Isthmus Partners LLC increased its stake in AMERISAFE by 14.4% in the second quarter. Isthmus Partners LLC now owns 76,870 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 9,672 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of AMERISAFE by 97.1% during the third quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 405 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of AMERISAFE during the 2nd quarter worth about $100,000. 97.41% of the stock is owned by institutional investors and hedge funds.

AMERISAFE Price Performance

Shares of AMSF stock opened at $58.01 on Wednesday. The firm has a 50-day moving average of $51.82 and a 200-day moving average of $48.07. AMERISAFE, Inc. has a one year low of $41.97 and a one year high of $60.24. The company has a market cap of $1.11 billion, a P/E ratio of 18.13 and a beta of 0.33.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $78.70 million for the quarter, compared to analysts’ expectations of $75.38 million. AMERISAFE had a return on equity of 16.50% and a net margin of 19.49%. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, research analysts expect that AMERISAFE, Inc. will post 2.45 earnings per share for the current fiscal year.

AMERISAFE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 6th will be issued a dividend of $3.37 per share. This represents a $13.48 dividend on an annualized basis and a yield of 23.24%. The ex-dividend date is Friday, December 6th. This is an increase from AMERISAFE’s previous quarterly dividend of $0.37. AMERISAFE’s dividend payout ratio (DPR) is 46.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMSF. StockNews.com upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and set a $65.00 price target on shares of AMERISAFE in a research note on Tuesday, October 15th. Finally, Truist Financial increased their price objective on AMERISAFE from $48.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, October 25th.

AMERISAFE Company 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.