Cuts Position in AMERISAFE, Inc. (AMSF)

13 Août, 2017, 09:53 | Author: Marc Bacque

Ameritas Investment Partners Inc. purchased a new position in shares of AMERISAFE during the first quarter valued at about $106,000.

Several hedge funds and other institutional investors have recently bought and sold shares of AMSF. As of the end of the quarter Cortina Asset Management, LLC had acquired a total of 116,686 shares growing its position 59.5%. Schroder Investment Management Group grew its investment by buying 153,671 shares an increase of 55.6% as of 06/30/2017. Tygh Capital Management Inc. boosted its stake in shares of AMERISAFE by 4.0% in the first quarter. State Street Corp now owns 449,561 shares of the insurance provider's stock valued at $28,029,000 after buying an additional 30,954 shares during the last quarter.

California Public Employees Retirement System trimmed its stake by shedding 5,500 shares a decrease of 9.8% in the quarter. OppenheimerFunds Inc. now owns 4,792 shares of the insurance provider's stock valued at $311,000 after buying an additional 736 shares during the last quarter. The institutional investor owned 176,470 shares of the insurance provider's stock after buying an additional 4,286 shares during the period. Finally, Norges Bank bought a new position in shares of AMERISAFE during the fourth quarter valued at approximately $10,326,000. AMERISAFE, Inc. has a 12-month low of $51.20 and a 12-month high of $69.40. (NASDAQ AMSF) traded down 1.22% during trading on Friday, hitting $56.55. 68,846 shares of the company were exchanged. The firm has a market capitalization of $1.08 billion, a P/E ratio of 16.49 and a beta of 0.87. The firm has a 50-day moving average of $56.68 and a 200 day moving average of $59.60.

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AMERISAFE (NASDAQ:AMSF) last released its earnings results on Thursday, July 27th. For the next financial year, analysts expect that the business will post earnings of $3.08 per share, with EPS estimates ranging from $2.90 to $3.25. The business had revenue of $89.93 million during the quarter, compared to the consensus estimate of $92.33 million. AMERISAFE had a net margin of 17.17% and a return on equity of 14.04%. During the same quarter past year, the firm earned $0.85 earnings per share. During the same quarter in the prior year, the business posted $0.85 EPS. In the latest earnings report the EPS was $3.43 and is expected to be $3.13 for the current year with 19,162,000 shares outstanding. AMERISAFE, Inc. also recently declared a dividend for shareholders payable on Friday the 22nd of September 2017. The ex-dividend date will be Wednesday the 7th of June 2017. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. AMERISAFE's dividend payout ratio is 23.32%.

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Several brokerages have commented on AMSF. FBR & Co restated an "outperform" rating and set a $64.00 target price (down previously from $71.00) on shares of AMERISAFE in a research report on Wednesday, May 10th. Zacks Investment Research raised AMERISAFE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 11th. Finally, BidaskClub cut shares of AMERISAFE from a "buy" rating to a "hold" rating in a research note on Wednesday, July 12th. The stock was acquired at an average price of $50.82 per share, for a total transaction of $127,050.00. Following the completion of the transaction, the director now directly owns 10,336 shares in the company, valued at approximately $539,022.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The stock was purchased at an average cost of $52.15 per share, with a total value of $104,300.00. The disclosure for this purchase can be found here. Garcia now owns $492,619 of stock per an SEC filing yesterday. 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.

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