Granite Investment Partners LLC Has $4.24 Million Stake in AMERISAFE, Inc. $AMSF

Granite Investment Partners LLC grew its position in AMERISAFE, Inc. (NASDAQ:AMSF) by 22.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,882 shares of the insurance provider’s stock after purchasing an additional 17,588 shares during the period. Granite Investment Partners LLC owned approximately 0.51% of AMERISAFE worth $4,237,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in AMERISAFE by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,888 shares of the insurance provider’s stock valued at $214,000 after buying an additional 332 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of AMERISAFE by 0.4% in the second quarter. New York State Common Retirement Fund now owns 87,449 shares of the insurance provider’s stock valued at $3,824,000 after purchasing an additional 334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of AMERISAFE by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,313 shares of the insurance provider’s stock worth $594,000 after purchasing an additional 471 shares in the last quarter. Signaturefd LLC boosted its holdings in AMERISAFE by 170.5% during the second quarter. Signaturefd LLC now owns 779 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 491 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in AMERISAFE by 0.4% during the first quarter. Raymond James Financial Inc. now owns 189,033 shares of the insurance provider’s stock worth $9,934,000 after purchasing an additional 679 shares during the last quarter. 97.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMSF shares. Weiss Ratings reissued a “hold (c-)” rating on shares of AMERISAFE in a research report on Monday. Citigroup reissued a “market outperform” rating on shares of AMERISAFE in a research report on Thursday, October 30th. Wall Street Zen downgraded AMERISAFE from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, JMP Securities lowered their price target on AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.00.

AMERISAFE Stock Down 0.7%

Shares of NASDAQ AMSF opened at $40.06 on Wednesday. The business’s 50 day moving average price is $41.35 and its two-hundred day moving average price is $43.79. The company has a market cap of $757.94 million, a PE ratio of 15.35 and a beta of 0.37. AMERISAFE, Inc. has a twelve month low of $39.09 and a twelve month high of $59.20.

AMERISAFE (NASDAQ:AMSF) last issued its earnings results on Wednesday, October 29th. The insurance provider reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. AMERISAFE had a return on equity of 16.94% and a net margin of 16.12%.The company had revenue of $71.29 million during the quarter, compared to the consensus estimate of $78.29 million. As a group, research analysts anticipate that AMERISAFE, Inc. will post 2.45 EPS for the current fiscal year.

AMERISAFE Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, December 5th will be issued a $1.00 dividend. This represents a dividend yield of 394.0%. The ex-dividend date is Friday, December 5th. AMERISAFE’s payout ratio is currently 59.77%.

Insider Buying and Selling at AMERISAFE

In other news, CFO Anastasios Omiridis sold 1,247 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $40.21, for a total transaction of $50,141.87. Following the completion of the sale, the chief financial officer owned 2,539 shares in the company, valued at approximately $102,093.19. This trade represents a 32.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.61% of the stock is owned by insiders.

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.