Quadrature Capital Ltd Takes $558,000 Position in AMERISAFE, Inc. (NASDAQ:AMSF)

Posted by Defense World Staff on Mar 12th, 2023

Quadrature Capital Ltd purchased a new position in shares of AMERISAFE, Inc. (NASDAQ:AMSF – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,944 shares of the insurance provider’s stock, valued at approximately $558,000. Quadrature Capital Ltd owned about 0.06% of AMERISAFE at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund increased its stake in AMERISAFE by 1.8% during the second quarter. Texas Permanent School Fund now owns 13,969 shares of the insurance provider’s stock worth $727,000 after acquiring an additional 241 shares during the last quarter. Raymond James & Associates increased its position in shares of AMERISAFE by 0.7% during the 3rd quarter. Raymond James & Associates now owns 41,164 shares of the insurance provider’s stock worth $1,924,000 after purchasing an additional 277 shares during the last quarter. Inspire Investing LLC raised its holdings in AMERISAFE by 8.0% in the 3rd quarter. Inspire Investing LLC now owns 4,427 shares of the insurance provider’s stock valued at $207,000 after buying an additional 328 shares during the period. Martingale Asset Management L P lifted its position in AMERISAFE by 1.7% in the third quarter. Martingale Asset Management L P now owns 20,858 shares of the insurance provider’s stock valued at $975,000 after buying an additional 350 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in AMERISAFE by 20.5% during the third quarter. IFP Advisors Inc now owns 2,296 shares of the insurance provider’s stock worth $139,000 after buying an additional 390 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMSF shares. TheStreet raised shares of AMERISAFE from a “c+” rating to a “b-” rating in a research note on Wednesday, February 22nd. Janney Montgomery Scott started coverage on AMERISAFE in a research report on Friday, February 24th. They issued a “neutral” rating and a $58.00 target price on the stock.

AMERISAFE Price Performance

Shares of NASDAQ:AMSF opened at $50.79 on Friday. The firm has a market capitalization of $973.14 million, a PE ratio of 17.64 and a beta of 0.34. AMERISAFE, Inc. has a 1 year low of $44.72 and a 1 year high of $60.49. The firm’s 50-day moving average is $53.40 and its two-hundred day moving average is $52.14.

AMERISAFE (NASDAQ:AMSF – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The insurance provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. The firm had revenue of $79.76 million during the quarter, compared to analysts’ expectations of $73.59 million. AMERISAFE had a net margin of 18.86% and a return on equity of 16.12%. Analysts expect that AMERISAFE, Inc. will post 2.59 EPS for the current fiscal year.

AMERISAFE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from AMERISAFE’s previous quarterly dividend of $0.31. AMERISAFE’s dividend payout ratio is currently 47.22%.

About AMERISAFE

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AMERISAFE, Inc is a holding company, which engages the provision of workers’ compensation insurance focuses on small to mid-sized employers. It focuses on the businesses in construction, Marine, oil and gas, trucking, logging and lumber, manufacturing, and agriculture. The company was founded by Millard E.