Overview
Workers’ compensation insurance company Amerisafe's Q3 gross premiums rise 7.2% yr/yr
Adjusted EPS for Q3 misses analyst expectations
Net investment income for Q3 falls 12.3% yr/yr due to decreased investable assets
Outlook
Company did not provide specific future financial guidance
Result Drivers
VOLUNTARY PREMIUMS - Voluntary premiums on policies written increased 10.6%, driven by strong policy retention and new business production
UNDERWRITING EXPENSES - Underwriting expense ratio improved to 31.1% from 31.7%, reflecting benefits of scale from portfolio growth
INVESTMENT INCOME DECLINE - Net investment income decreased 12.3% due to decreased investable assets following a special dividend
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Gross Premiums | $80.32 mln | ||
Q3 Adjusted EPS | Miss | $0.55 | $0.56 (4 Analysts) |
Q3 EPS | $0.72 | ||
Q3 Net Income | $13.82 mln | ||
Q3 Combined Ratio | 90.60% | ||
Q3 Underwriting Profit | $6.69 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy."
Wall Street's median 12-month price target for Amerisafe Inc is $50.00, about 18.8% above its October 28 closing price of $40.60
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 20 three months ago
Press Release: ID:nBw3CHfZJa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Comments