AMERISAFE (NASDAQ:AMSF) Stock Rating Reaffirmed by JMP Securities

AMERISAFE (NASDAQ:AMSF)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a report released on Monday, Benzinga reports. They presently have a $65.00 target price on the insurance provider’s stock. JMP Securities’ price objective would indicate a potential upside of 33.06% from the company’s current price.

Separately, TheStreet upgraded AMERISAFE from a “c+” rating to a “b-” rating in a report on Monday, March 4th.

AMERISAFE Stock Up 1.1 %

Shares of NASDAQ AMSF opened at $48.85 on Monday. The firm’s 50-day simple moving average is $50.20 and its 200 day simple moving average is $49.59. The stock has a market cap of $934.99 million, a P/E ratio of 15.12 and a beta of 0.32. AMERISAFE has a fifty-two week low of $45.34 and a fifty-two week high of $57.06.

AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings data on Wednesday, February 21st. The insurance provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.08. AMERISAFE had a net margin of 20.24% and a return on equity of 17.19%. The company had revenue of $73.88 million during the quarter, compared to analyst estimates of $75.15 million. On average, sell-side analysts anticipate that AMERISAFE will post 2.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its stake in shares of AMERISAFE by 7.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,591 shares of the insurance provider’s stock valued at $191,000 after acquiring an additional 248 shares in the last quarter. Inspire Investing LLC lifted its position in shares of AMERISAFE by 4.9% during the 3rd quarter. Inspire Investing LLC now owns 6,178 shares of the insurance provider’s stock worth $309,000 after purchasing an additional 287 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in AMERISAFE by 2.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 10,967 shares of the insurance provider’s stock worth $513,000 after buying an additional 314 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of AMERISAFE by 12.9% during the first quarter. Belpointe Asset Management LLC now owns 2,761 shares of the insurance provider’s stock worth $135,000 after buying an additional 316 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of AMERISAFE by 1.2% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 28,117 shares of the insurance provider’s stock valued at $1,499,000 after acquiring an additional 338 shares during the period. Institutional investors and hedge funds own 97.41% of the company’s stock.

About AMERISAFE

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.