Amerisafe, Inc. (NASDAQ:AMSF) – Investment analysts at Boenning Scattergood boosted their Q2 2020 earnings per share (EPS) estimates for Amerisafe in a note issued to investors on Monday, October 21st. Boenning Scattergood analyst R. Farnam now expects that the insurance provider will post earnings of $0.72 per share for the quarter, up from their previous estimate of $0.70. Boenning Scattergood also issued estimates for Amerisafe’s Q3 2020 earnings at $0.66 EPS, Q4 2020 earnings at $0.67 EPS and FY2020 earnings at $2.75 EPS.
A number of other brokerages have also recently weighed in on AMSF. ValuEngine cut shares of Amerisafe from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. B. Riley restated a “buy” rating on shares of Amerisafe in a research note on Tuesday, October 15th. Finally, BidaskClub cut shares of Amerisafe from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $73.00.
Amerisafe (NASDAQ:AMSF) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.13. Amerisafe had a net margin of 20.20% and a return on equity of 17.23%. The business had revenue of $91.19 million during the quarter, compared to analysts’ expectations of $92.22 million.
A number of large investors have recently added to or reduced their stakes in AMSF. Nuveen Asset Management LLC raised its stake in Amerisafe by 107.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 589,141 shares of the insurance provider’s stock valued at $37,570,000 after purchasing an additional 305,542 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Amerisafe by 128.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 160,297 shares of the insurance provider’s stock valued at $9,991,000 after purchasing an additional 89,978 shares during the last quarter. Renaissance Technologies LLC raised its stake in Amerisafe by 123.0% during the 2nd quarter. Renaissance Technologies LLC now owns 153,900 shares of the insurance provider’s stock valued at $9,814,000 after purchasing an additional 84,900 shares during the last quarter. Morgan Stanley raised its stake in Amerisafe by 409.5% during the 2nd quarter. Morgan Stanley now owns 88,235 shares of the insurance provider’s stock valued at $5,626,000 after purchasing an additional 70,917 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Amerisafe by 16.4% during the 2nd quarter. Invesco Ltd. now owns 363,112 shares of the insurance provider’s stock valued at $23,155,000 after purchasing an additional 51,129 shares during the last quarter.
In related news, CFO Neal Andrew Fuller sold 2,872 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $66.30, for a total transaction of $190,413.60. Following the completion of the transaction, the chief financial officer now directly owns 18,353 shares in the company, valued at approximately $1,216,803.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.
Amerisafe Company Profile
AMERISAFE, Inc, an insurance holding company, underwrites workers' compensation insurance in the United States. Its workers' compensation insurance policies provide benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. The company provides workers' compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, agriculture, maritime, and oil and gas.
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