AMERISAFE (NASDAQ:AMSF) Given New $54.00 Price Target at Truist Financial

AMERISAFE (NASDAQ:AMSF - Get Free Report) had its price objective hoisted by research analysts at Truist Financial from $48.00 to $54.00 in a report issued on Friday, Benzinga reports. The firm currently has a "hold" rating on the insurance provider's stock. Truist Financial's price target indicates a potential downside of 1.78% from the company's previous close.

Several other equities research analysts also recently weighed in on AMSF. StockNews.com upgraded AMERISAFE from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. JMP Securities restated a "market outperform" rating and set a $65.00 target price on shares of AMERISAFE in a research note on Tuesday, October 15th.

AMERISAFE Stock Performance

Shares of NASDAQ AMSF traded down $1.19 during trading on Friday, reaching $54.98. The stock had a trading volume of 164,678 shares, compared to its average volume of 125,168. The company has a market cap of $1.05 billion, a P/E ratio of 17.13 and a beta of 0.34. AMERISAFE has a fifty-two week low of $41.97 and a fifty-two week high of $56.46. The business's 50-day moving average price is $49.33 and its 200-day moving average price is $47.10.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $78.70 million during the quarter, compared to the consensus estimate of $75.38 million. AMERISAFE had a return on equity of 16.38% and a net margin of 18.46%. During the same period in the previous year, the company posted $0.61 EPS. Analysts forecast that AMERISAFE will post 2.4 EPS for the current fiscal year.

Hedge Funds Weigh In On AMERISAFE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMSF. Kathleen S. Wright Associates Inc. acquired a new position in AMERISAFE in the third quarter valued at $28,000. Quarry LP boosted its position in shares of AMERISAFE by 1,028.4% in the 2nd quarter. Quarry LP now owns 756 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 689 shares during the period. GAMMA Investing LLC grew its stake in AMERISAFE by 97.1% during the 3rd quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider's stock worth $40,000 after buying an additional 405 shares during the last quarter. EntryPoint Capital LLC increased its position in AMERISAFE by 22.0% during the first quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider's stock worth $104,000 after buying an additional 376 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in AMERISAFE in the second quarter valued at approximately $100,000. 97.41% of the stock is owned by institutional investors and hedge funds.

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.