Morgan Stanley Sells 39,564 Shares of AMERISAFE, Inc. (AMSF)

Morgan Stanley lowered its stake in AMERISAFE, Inc. (NASDAQ:AMSF) by 32.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,635 shares of the insurance provider’s stock after selling 39,564 shares during the period. Morgan Stanley’s holdings in AMERISAFE were worth $5,428,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of AMERISAFE during the first quarter valued at $106,000. State of Alaska Department of Revenue raised its stake in shares of AMERISAFE by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,120 shares of the insurance provider’s stock valued at $137,000 after buying an additional 40 shares in the last quarter. US Bancorp DE raised its stake in shares of AMERISAFE by 8.8% in the first quarter. US Bancorp DE now owns 2,510 shares of the insurance provider’s stock valued at $162,000 after buying an additional 202 shares in the last quarter. Oxford Asset Management bought a new stake in shares of AMERISAFE during the first quarter valued at approximately $264,000. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of AMERISAFE during the first quarter valued at approximately $268,000. 99.73% of the stock is currently owned by institutional investors.

Shares of AMERISAFE, Inc. (NASDAQ:AMSF) opened at 55.45 on Friday. AMERISAFE, Inc. has a 52 week low of $51.20 and a 52 week high of $69.40. The company has a 50-day moving average price of $56.70 and a 200 day moving average price of $59.27. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 16.17 and a beta of 0.87.

AMERISAFE (NASDAQ:AMSF) last issued its earnings results on Thursday, July 27th. The insurance provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. The firm had revenue of $89.93 million for the quarter, compared to the consensus estimate of $92.33 million. AMERISAFE had a return on equity of 14.04% and a net margin of 17.17%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. Analysts expect that AMERISAFE, Inc. will post $3.13 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, September 7th. AMERISAFE’s dividend payout ratio is presently 23.32%.

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Several analysts recently commented on the company. BidaskClub lowered AMERISAFE from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised AMERISAFE from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $64.00 price target (down previously from $71.00) on shares of AMERISAFE in a research note on Wednesday, May 10th.

In other news, Director Jared A. Morris acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average price of $50.82 per share, with a total value of $127,050.00. Following the acquisition, the director now directly owns 12,390 shares in the company, valued at approximately $629,659.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Millard E. Morris acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were purchased at an average cost of $52.15 per share, for a total transaction of $104,300.00. Following the acquisition, the director now owns 10,336 shares in the company, valued at $539,022.40. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,054 shares of company stock worth $311,443. Company insiders own 2.20% of the company’s stock.

About AMERISAFE

Amerisafe, Inc is an insurance holding company. The Company is engaged in providing workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, and agriculture. It is engaged in underwriting the workers’ compensation exposures inherent in these industries.

Institutional Ownership by Quarter for AMERISAFE (NASDAQ:AMSF)

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