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Amerisafe

DB:A3I
Snowflake Description

Adequate balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
A3I
DB
$1B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

AMERISAFE, Inc., an insurance holding company, underwrites workers’ compensation insurance in the United States. The last earnings update was 45 days ago. More info.


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A3I Share Price and Events
7 Day Returns
1.7%
DB:A3I
1.1%
DE Insurance
0.3%
DE Market
1 Year Returns
4.3%
DB:A3I
16.7%
DE Insurance
-11.7%
DE Market
A3I Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Amerisafe (A3I) 1.7% 2.1% 2.3% 4.3% 1.7% 94.7%
DE Insurance 1.1% 1.4% 3.3% 16.7% 52.2% 60.6%
DE Market 0.3% -2.3% -1.1% -11.7% 12.2% 6.1%
1 Year Return vs Industry and Market
  • A3I underperformed the Insurance industry which returned 16.7% over the past year.
  • A3I outperformed the Market in Germany which returned -11.7% over the past year.
Price Volatility
A3I
Industry
5yr Volatility vs Market

A3I Value

 Is Amerisafe undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Amerisafe to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Amerisafe.

DB:A3I Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $21.59 * 14.6%
$3.16
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $21.59
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:A3I
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.69 (1 + (1- 21%) (0.05%))
0.793
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:A3I using Excess Returns Model Model

The calculations below outline how an intrinsic value for Amerisafe is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:A3I Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14.6% – 5%) * $21.59)
$2.08
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $2.08 / (5% - 0.23%)
$43.60
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $21.59 + $43.60
$65.19
DB:A3I Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:A3I represents 0.88507x of NasdaqGS:AMSF
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88507x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 65.19 x 0.88507
€57.69
Value per share (EUR) From above. €57.69
Current discount Discount to share price of €54.29
= -1 x (€54.29 - €57.69) / €57.69
5.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Amerisafe is available for.
Intrinsic value
6%
Share price is €54.29 vs Future cash flow value of €57.69
Current Discount Checks
For Amerisafe to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Amerisafe's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Amerisafe's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Amerisafe's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Amerisafe's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:A3I PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $3.90
NasdaqGS:AMSF Share Price ** NasdaqGS (2019-06-17) in USD $61.34
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.06x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Amerisafe.

DB:A3I PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:AMSF Share Price ÷ EPS (both in USD)

= 61.34 ÷ 3.90

15.75x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Amerisafe is overvalued based on earnings compared to the DE Insurance industry average.
  • Amerisafe is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Amerisafe's expected growth come at a high price?
Raw Data
DB:A3I PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.75x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-4.6%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.21x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

DB:A3I PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.75x ÷ -4.6%

-3.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Amerisafe earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Amerisafe's assets?
Raw Data
DB:A3I PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $22.34
NasdaqGS:AMSF Share Price * NasdaqGS (2019-06-17) in USD $61.34
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.04x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:A3I PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:AMSF Share Price ÷ Book Value per Share (both in USD)

= 61.34 ÷ 22.34

2.75x

* Primary Listing of Amerisafe.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Amerisafe is overvalued based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Amerisafe's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Amerisafe has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

A3I Future Performance

 How is Amerisafe expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Amerisafe expected to grow at an attractive rate?
  • Amerisafe's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Amerisafe's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Amerisafe's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:A3I Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:A3I Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -4.6%
DB:A3I Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts -0.2%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.6%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:A3I Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:A3I Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 379 69 1
2020-12-31 365 61 3
2019-12-31 370 69 3
DB:A3I Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 379 106 75
2018-12-31 378 98 72
2018-09-30 378 99 53
2018-06-30 377 127 50
2018-03-31 372 120 49
2017-12-31 375 131 46
2017-09-30 379 134 65
2017-06-30 384 99 66
2017-03-31 392 108 67
2016-12-31 397 114 78
2016-09-30 401 113 82
2016-06-30 400 123 82

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Amerisafe's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Amerisafe's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:A3I Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Amerisafe Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:A3I Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.55 3.55 3.55 1.00
2020-12-31 3.18 3.55 2.80 2.00
2019-12-31 3.57 3.84 3.29 2.00
DB:A3I Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 3.90
2018-12-31 3.73
2018-09-30 2.79
2018-06-30 2.62
2018-03-31 2.55
2017-12-31 2.41
2017-09-30 3.37
2017-06-30 3.45
2017-03-31 3.51
2016-12-31 4.08
2016-09-30 4.29
2016-06-30 4.30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Amerisafe is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Amerisafe's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Amerisafe has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

A3I Past Performance

  How has Amerisafe performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Amerisafe's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Amerisafe's year on year earnings growth rate has been positive over the past 5 years.
  • Amerisafe's 1-year earnings growth exceeds its 5-year average (53.2% vs 2.4%)
  • Amerisafe's earnings growth has exceeded the DE Insurance industry average in the past year (53.2% vs 9.4%).
Earnings and Revenue History
Amerisafe's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Amerisafe Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:A3I Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 378.77 74.86 27.31
2018-12-31 377.75 71.63 26.49
2018-09-30 378.02 53.48 26.02
2018-06-30 377.30 50.35 25.87
2018-03-31 371.84 48.88 25.75
2017-12-31 375.21 46.23 26.13
2017-09-30 378.83 64.66 26.08
2017-06-30 384.23 65.97 26.34
2017-03-31 391.87 67.13 26.11
2016-12-31 396.66 77.87 25.58
2016-09-30 400.53 81.87 25.48
2016-06-30 399.79 81.91 25.46
2016-03-31 402.17 79.59 25.03
2015-12-31 401.62 70.46 25.14
2015-09-30 404.08 64.25 25.00
2015-06-30 408.95 59.79 24.90
2015-03-31 409.63 58.25 24.19
2014-12-31 404.02 53.67 25.02
2014-09-30 393.44 54.18 24.48
2014-06-30 379.11 50.36 23.96
2014-03-31 366.00 45.21 24.44
2013-12-31 356.34 43.50 23.36
2013-09-30 347.61 35.34 23.13
2013-06-30 339.98 32.78 22.43
2013-03-31 329.11 28.61 21.80
2012-12-31 321.25 29.33 21.24
2012-09-30 310.58 28.19 20.69
2012-06-30 301.94 25.96 20.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Amerisafe has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Amerisafe used its assets more efficiently than the DE Insurance industry average last year based on Return on Assets.
  • Amerisafe's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Amerisafe's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Amerisafe has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

A3I Health

 How is Amerisafe's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Amerisafe's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Amerisafe is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Amerisafe's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Amerisafe's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4400.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Amerisafe Company Filings, last reported 2 months ago.

DB:A3I Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 430.41 0.63 99.60
2018-12-31 409.76 0.10 54.58
2018-09-30 459.00 0.00 138.22
2018-06-30 445.39 0.00 127.99
2018-03-31 432.07 0.00 80.78
2017-12-31 425.42 0.00 81.33
2017-09-30 494.95 0.00 149.90
2017-06-30 481.39 0.00 100.60
2017-03-31 467.10 0.00 72.16
2016-12-31 456.15 0.00 88.52
2016-09-30 509.74 0.00 98.11
2016-06-30 495.95 0.00 87.32
2016-03-31 478.75 0.00 91.00
2015-12-31 453.98 0.00 77.20
2015-09-30 490.58 0.00 106.96
2015-06-30 472.80 0.00 68.42
2015-03-31 461.65 0.00 91.92
2014-12-31 446.97 0.00 124.64
2014-09-30 448.48 0.00 160.96
2014-06-30 435.48 0.00 184.62
2014-03-31 420.58 0.00 191.89
2013-12-31 416.81 0.00 207.50
2013-09-30 400.71 0.00 202.91
2013-06-30 392.52 0.00 165.36
2013-03-31 389.70 0.00 149.71
2012-12-31 381.22 0.00 161.60
2012-09-30 372.14 0.00 120.69
2012-06-30 363.45 12.89 120.60
  • Amerisafe's level of debt (0%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (0% vs 0% today).
  • Debt is well covered by operating cash flow (117642.2%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Amerisafe's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Amerisafe's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Amerisafe has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

A3I Dividends

 What is Amerisafe's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.34%
Current annual income from Amerisafe dividends. Estimated to be 6.92% next year.
If you bought €2,000 of Amerisafe shares you are expected to receive €147 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Amerisafe's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Amerisafe's dividend is above the markets top 25% of dividend payers in Germany (3.91%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:A3I Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:A3I Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 4.41 1.00
2020-12-31 4.33 1.00
2019-12-31 4.13 2.00
DB:A3I Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-27 4.500 7.538
2018-10-24 4.380 7.234
2018-04-25 4.380 7.151
2018-02-26 4.380 7.918
2017-10-27 4.300 6.916
2017-10-25 4.300 6.899
2017-07-28 4.050 7.120
2017-07-27 4.050 6.939
2017-04-28 4.050 7.372
2017-04-26 4.050 6.699
2017-02-24 4.050 6.306
2017-02-22 4.050 6.088
2016-10-27 3.970 6.349
2016-10-26 3.970 7.100
2016-07-29 3.720 6.367
2016-07-28 3.720 6.193
2016-04-29 3.720 6.198
2016-04-27 3.720 6.986
2016-02-26 3.720 7.226
2016-02-24 3.720 7.112
2015-10-29 3.600 7.033
2015-07-30 0.600 1.207
2015-04-30 0.600 1.316
2015-03-02 0.600 1.370
2015-02-27 0.600 1.444
2015-02-26 0.600 1.417
2014-10-30 0.480 1.138
2014-07-30 0.480 1.239
2014-04-30 0.480 1.235
2014-02-28 0.480 1.121
2014-02-26 0.480 1.137
2013-08-19 0.320 0.830
2013-05-01 0.320 0.932
2013-02-27 0.320 0.945

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Amerisafe has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Amerisafe only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Amerisafe's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.7x coverage).
X
Income/ dividend checks
We assess Amerisafe's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Amerisafe afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Amerisafe has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

A3I Management

 What is the CEO of Amerisafe's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gerry Frost
COMPENSATION $1,869,102
AGE 47
TENURE AS CEO 4.2 years
CEO Bio

Ms. Gerry Janelle Frost has served as Chief Executive Officer since April 2015 and President since September 2013 of AMERISAFE Inc and American Interstate Insurance Company of Texas. She has served as a Director of the company since April 2016. Prior to becoming Chief Executive Officer, Ms. Frost served as Chief Operating Officer of the company from May 2013 to April 2015. She served as Executive Vice President and Chief Financial Officer from November 2008 to April 2013, Controller from May 2004 to November 2008 and Vice President of the Company from May 2006 to November 2008. She has been employed with the Company since 1992 and served as Assistant Vice President from May 2004 to May 2006 and Deputy Controller from 1998 to April 2004. She served as President and Chief Executive Officer at Silver Oak Casualty, Inc. Ms. Frost serves as a Director of New Orleans Branch of Federal Reserve Bank of Atlanta.

CEO Compensation
  • Gerry's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Gerry's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Amerisafe management team in years:

5.6
Average Tenure
47
Average Age
  • The average tenure for the Amerisafe management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Gerry Frost

TITLE
President
COMPENSATION
$2M
AGE
47
TENURE
4.2 yrs

Neal Fuller

TITLE
Executive VP & CFO
COMPENSATION
$873K
AGE
56
TENURE
3.8 yrs

Kathryn Shirley

TITLE
Executive VP
COMPENSATION
$560K
AGE
52
TENURE
7.1 yrs

Vince Gagliano

TITLE
Executive VP & Chief Risk Officer
COMPENSATION
$646K
AGE
45
TENURE
9.8 yrs

Brendan Gau

TITLE
Executive VP & CIO
COMPENSATION
$493K
AGE
43
TENURE
10 yrs

David Morton

TITLE
Senior Vice President of Sales & Marketing
AGE
47
TENURE
4.2 yrs

Henry Lestage

TITLE
Senior Vice President of Claims Operations
AGE
57
TENURE
18.8 yrs

Leon Lagneaux

TITLE
Senior Vice President of Safety Operations
AGE
66
TENURE
14.3 yrs

Barbra McCrary

TITLE
Senior Vice President of Policyholder Services
AGE
43
TENURE
1.6 yrs

Andy McCray

TITLE
Executive VP & Chief Underwriting Officer
TENURE
0.1 yrs
Board of Directors Tenure

Average tenure and age of the Amerisafe board of directors in years:

7
Average Tenure
63.5
Average Age
  • The tenure for the Amerisafe board of directors is about average.
Board of Directors

Jared Morris

TITLE
Chairman of the Board
COMPENSATION
$161K
AGE
43
TENURE
3.2 yrs

Gerry Frost

TITLE
President
COMPENSATION
$2M
AGE
47
TENURE
3.2 yrs

Millard Morris

TITLE
Director
COMPENSATION
$107K
AGE
74
TENURE
12 yrs

Randy Roach

TITLE
Director
COMPENSATION
$116K
AGE
67
TENURE
12.3 yrs

Phil Garcia

TITLE
Director
COMPENSATION
$126K
AGE
62
TENURE
9.4 yrs

Michael Brown

TITLE
Director
COMPENSATION
$116K
AGE
54
TENURE
4.6 yrs

Daniel Phillips

TITLE
Director
COMPENSATION
$105K
AGE
72
TENURE
12 yrs

Teri Fontenot

TITLE
Director
COMPENSATION
$110K
AGE
65
TENURE
3.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
31. Aug 18 Sell Randall Roach Individual 29. Aug 18 29. Aug 18 -800 €54.29 €-43,434
X
Management checks
We assess Amerisafe's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Amerisafe has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

A3I News

Simply Wall St News

A3I Company Info

Description

AMERISAFE, Inc., an insurance holding company, underwrites workers’ compensation insurance in the United States. Its workers’ compensation insurance policies provide benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. The company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, agriculture, maritime, and oil and gas. The company was incorporated in 1985 and is based in DeRidder, Louisiana.

Details
Name: Amerisafe, Inc.
A3I
Exchange: DB
Founded: 1985
$1,052,193,160
19,269,219
Website: http://www.amerisafe.com
Address: Amerisafe, Inc.
2301 Highway 190 West,
DeRidder,
Louisiana, 70634,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS AMSF Voting Common Stock Nasdaq Global Select US USD 18. Nov 2005
DB A3I Voting Common Stock Deutsche Boerse AG DE EUR 18. Nov 2005
Number of employees
Current staff
Staff numbers
428
Amerisafe employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/17 20:55
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.