Investors Increase Stake in Amerisafe

Friday, September 6, 2019 | 0

Several hedge funds have increased their investments in Amerisafe Inc., as profits at the monoline workers’ comp carrier continue to grow.

Piedmont Investment Advisors Inc. increased its stake in the company by 5.9% in the first quarter. Piedmont added 270 shares during the period for a total of 4,852 shares worth about $288,000, Tech News Observer reported.

Mason Street Advisors LLC increased its stake in Amerisafe by 3.4% in the first quarter, while 6 Meridian increased its stake by 2.1% in the second quarter and now owns 8,740 shares worth about $557,000.

Arizona State Retirement System bought 173 shares in the second quarter, a 0.6% increase that brings its total to 29,900 shares worth about $1.9 million.

Amerisafe’s focus is small to mid-sized employers in hazardous industries such as construction, trucking, logging, manufacturing and agriculture. The company’s net income for the second quarter was $17.9 million, a 5.5% increase from the prior-year quarter. Net income for the first half of the year increased 13%.

The company announced it will pay a quarterly dividend this month of 25 cents per share.