Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:Ultrapar Participações S.A. (UGP) : This energy and infrastructure company has seen the Zacks Consensus Estimate for its current year earnings increasing 31.8% over the last 60 days.Kiniksa Pharmaceuticals, Ltd. (KNSA) : This biopharmaceutical company has seen the Zacks Consensus Estimate for its current year earnings increasing 20.5% over the last 60 days.Employers Holdings, Inc. (EIG) : This property and casualty insurance company has ...

Here are two stocks with buy rank and strong income characteristics for investors to consider today, February 29:AMERISAFE, Inc. (AMSF) : This insurance holding company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 3.5% the last 60 days.This Zacks Rank #1 company has a dividend yield of 2.6%, compared with the industry average of 2.5%.Honda Motor Co., Ltd. (HMC) : This automobile company has witnessed the Zacks Consensus Estimate for its current year earnings increasing ...

Amerisafe (AMSF) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earnings pi ...

AMERISAFE, Inc. (AMSF) reported fourth-quarter 2023 adjusted earnings per share (EPS) of 74 cents, which outpaced the Zacks Consensus Estimate by 12.1%. However, the bottom line fell 11.9% year over year.Operating revenues of $74 million remained flat year over year. The top line fell short of the consensus mark by 1.7%.The quarterly results benefited on the back of higher gross premiums written, an increase in voluntary premiums due to expanding policy count coupled with favorable payroll audits and relate ...

AMERISAFE, Inc. (NASDAQ:AMSF) Q4 2023 Earnings Conference Call February 22, 2024 10:30 AM ET Company Participants Kathryn Shirley – Chief Administrative Officer Janelle Frost – President and Chief Executive Officer Andy Omiridis – Executive Vice President and Chief Financial Officer Conference Call Participants Matt Carletti – JMP Securities Mark Hughes – Truist Bob Farnam – Janney Operator Good day, and welcome to the AMERISAFE 2023 Fourth Quarter Earnings Conference Call. Today's conference is being recor ...

Business Performance - The company had a policy renewal rate of 94.1% for voluntary business in 2023, up from 93.8% in 2022 and 93.5% in 2021[24]. - As of December 31, 2023, the company had over 8,500 voluntary business policyholders with an average annual workers' compensation policy written premium of $28,658[24]. - The company's expense ratio was 29.3% in 2023, indicating efficient operations compared to competitors[15]. - Gross premiums written in 2023 totaled $285,355 thousand, an increase from $276,110 thousand in 2022, representing a growth of 6.5%[30]. - The voluntary business segment accounted for 97.2% of total gross premiums written in 2023, up from 96.4% in 2022[30]. - The construction industry generated $135,758 thousand in gross premiums in 2023, making up 47.6% of voluntary business, an increase from 44.8% in 2022[30]. - Florida contributed 13.4% of gross premiums in 2023, the highest among states, compared to 11.8% in 2022[33]. - Total voluntary business gross premiums written in 2023 reached $277.3 million, a 4.1% increase from $266.2 million in 2022[30]. Underwriting and Claims Management - The company utilizes proactive safety reviews, with 93.4% of new voluntary business policyholders having pre-quotation safety inspections in 2023[13]. - Open indemnity claims per field case manager averaged 44 claims as of December 31, 2023, which is significantly lower than the industry average[14]. - The company aims to increase market penetration in existing states, leveraging specialized underwriting expertise and safety services[17]. - The company employs a proactive approach to underwriting and claims management, with an average of 44 open indemnity claims per field case manager as of December 31, 2023[14]. - The underwriting strategy focuses on hazardous industries, with a selective approach to policyholder evaluation based on industry trends and statistical data[36]. Reserves and Losses - As of December 31, 2023, the total net reserve for loss and loss adjustment expenses was estimated at $554.2 million, which includes $13.0 million for mandatory pooling arrangements[61]. - The gross case loss and DCC reserves decreased to $535.1 million in 2023 from $559.6 million in 2022, reflecting a decline of approximately 4.0%[63]. - The gross unpaid loss, DCC, and AO reserves totaled $673.9 million as of December 31, 2023, down from $696.0 million in 2022, indicating a reduction of approximately 3.2%[63]. - The company established reserves for incurred but not reported (IBNR) losses amounting to $119.8 million as of December 31, 2023, slightly up from $118.9 million in 2022[63]. - The total incurred losses for the current accident year in 2023 were reported at $189.7 million, compared to $192.9 million in 2022[68]. - The average case incurred amount is subject to significant variability due to factors such as medical treatment uncertainties and judicial determinations[55]. - Sensitivity analysis indicated that a 30% increase in paid loss development factors would result in a net loss and DCC amount change of $31.1 million, representing a 5.9% increase in reserves[64]. - The company utilized six actuarial methods to estimate reserves, including the Paid Development Method and Incurred Development Method, to ensure accuracy in reserve estimation[59]. Investment Portfolio - The carrying value of the investment portfolio, including cash and cash equivalents, was $896.5 million, with a fair value of $886.0 million as of December 31, 2023[78]. - The company’s investment policy aims to preserve capital and surplus while maximizing after-tax income and risk-adjusted total return[78]. - The majority of fixed maturity securities are classified as "held-to-maturity," with changes in non-credit related unrecognized gains and losses not reflected until realized[80]. - The effective interest rate for the investment portfolio categories as of December 31, 2023, is detailed in the management's discussion and analysis section[81]. - The pre-tax investment yield for the twelve months ended December 31, 2023, was 3.4% per annum[82]. - The average composite rating of the investment portfolio, excluding equity holdings, was "AA-" as of December 31, 2023[87]. - The credit quality of the investment portfolio showed that 12.5% was rated "AAA" and 56.4% was rated "AA" as of December 31, 2023[87]. Employee and Corporate Governance - As of December 31, 2023, the company had 350 full-time employees, with an average employee tenure of 10.8 years and 62% of the workforce being female[110]. - The company invests in the professional development of its employees, including insurance certification programs and leadership training[111]. - The company is committed to employee health and wellness, offering various benefits such as health care, 401k retirement programs, and wellness initiatives[107]. - The company has launched a new committee to focus on charitable giving and corporate volunteering efforts, comprising employees from various levels and departments[109]. - The company has a competitive compensation and benefits program aligned with shareholders' interests, including incentive compensation programs for underwriting and field safety professionals[106]. Regulatory Compliance and Market Position - The company is licensed in 27 states, with 51.0% of voluntary in-force premiums generated in six states where it derived 5.0% or more of gross premiums written in 2023[18]. - The examinations by the Nebraska and Texas insurance departments for AIIC and SOCI were completed in 2023 with no material findings[125]. - As of December 31, 2023, AIIC, SOCI, and AIICTX exceeded the minimum risk-based capital requirements, with Nebraska requiring a minimum capital and surplus of $2.0 million and Texas requiring $5.0 million[139]. - The 2023 IRIS results for AIIC, SOCI, and AIICTX were within expected values for all 13 industry ratios, indicating stable financial conditions[140]. - The company estimates that more than 300 insurance companies participate in the workers' compensation market, with its competitive advantages including underwriting expertise and lower premium rates compared to state insurance pools[104][105].

For the quarter ended December 2023, Amerisafe (AMSF) reported revenue of $73.88 million, up 0.1% over the same period last year. EPS came in at $0.74, compared to $0.84 in the year-ago quarter.The reported revenue represents a surprise of -1.69% over the Zacks Consensus Estimate of $75.15 million. With the consensus EPS estimate being $0.66, the EPS surprise was +12.12%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...

Core Points - AMERISAFE, Inc. has increased its quarterly dividend by 8.8%, raising it from $0.34 to $0.37 per share [1] - The new dividend will be payable on March 22, 2024, to shareholders of record as of March 8, 2024 [1] - Since initiating dividend payments in 2013, the company has declared a total of $43.26 in dividends per share, which includes $10.01 in regular dividends and $33.25 in special dividends [1] Company Overview - AMERISAFE, Inc. specializes in providing workers' compensation insurance, primarily targeting small to mid-sized employers in high-hazard industries such as construction, trucking, logging, agriculture, and manufacturing [2] - The company actively markets its insurance products across 27 states [2]

[Overall Performance Highlights](index=1&type=section&id=Overall%20Performance%20Highlights) AMERISAFE reported strong full-year 2023 results with net income of $62.1 million and a return on equity of 20.4%, despite a slight decrease in Q4 net income, achieving 8.4% growth in gross premiums written for Q4 and maintaining a disciplined approach to high-hazard workers' compensation Key Financial Metrics (Q4 and FY 2023 vs 2022, in thousands) | Metric | Three Months Ended Dec 2023 | Three Months Ended Dec 2022 | % Change (QoQ) | Twelve Months Ended Dec 2023 | Twelve Months Ended Dec 2022 | % Change (YoY) | | :----------------------------------------- | :-------------------------- | :-------------------------- | :------------- | :--------------------------- | :--------------------------- | :------------- | | Net premiums earned | $65,712 | $66,073 | -0.5% | $267,125 | $271,698 | -1.7% | | Net investment income | $8,077 | $7,642 | 5.7% | $31,339 | $27,223 | 15.1% | | Net income | $19,181 | $20,778 | -7.7% | $62,108 | $55,602 | 11.7% | | Diluted earnings per share | $1.00 | $1.08 | -7.4% | $3.23 | $2.88 | 12.2% | | Operating net income | $14,257 | $16,093 | -11.4% | $55,940 | $59,277 | -5.6% | | Operating earnings per share | $0.74 | $0.84 | -11.9% | $2.91 | $3.07 | -5.2% | | Book value per share | $15.28 | $16.57 | -7.8% | $15.28 | $16.57 | -7.8% | | Net combined ratio | 85.5% | 82.0% | | 85.9% | 83.6% | | | Return on average equity | 24.4% | 24.1% | | 20.4% | 15.5% | | - AMERISAFE reported **$62.1 million of Net Income**, **Return on Equity of 20.4%** and **Net Combined Ratio of 85.9%** in 2023[1](index=1&type=chunk) - **Gross premium written growth of 8.4%** and a **combined ratio of 85.5%** for the fourth quarter, and a **20.4% ROAE** for the full year[2](index=2&type=chunk) [CEO Commentary](index=1&type=section&id=CEO%20Commentary) The CEO emphasized AMERISAFE's commitment to policyholders, agents, and shareholders through risk assessment, safety measures, and meticulous claims handling, which drove solid performance and positions the company for future value creation - AMERISAFE's value proposition rests on service and delivering on commitments to policyholders, agents, and shareholders[2](index=2&type=chunk) - The Company collaborates closely with insured parties to assess risks, bolster safety measures, and meticulously handle claims to achieve optimal results[2](index=2&type=chunk) - The Company's capital strength and approach to the high-hazard workers' compensation market position AMERISAFE for solid performance and ability to create long-term shareholder value[2](index=2&type=chunk) [INSURANCE RESULTS](index=2&type=section&id=INSURANCE%20RESULTS) This section details AMERISAFE's underwriting performance, including premium growth, loss ratios, and operational factors influencing profitability [Underwriting Performance and Ratios](index=2&type=section&id=Underwriting%20Performance%20and%20Ratios) Gross premiums written increased by 8.4% in Q4 2023 and 3.3% for the full year, driven by voluntary premiums and payroll audits, while net premiums earned saw slight declines, and the net combined ratio for the full year was 85.9%, an increase from 83.6% in 2022, primarily due to a higher underwriting expense ratio Insurance Performance Metrics (Q4 and FY 2023 vs 2022, in thousands) | Metric | Three Months Ended Dec 2023 | Three Months Ended Dec 2022 | % Change (QoQ) | Twelve Months Ended Dec 2023 | Twelve Months Ended Dec 2022 | % Change (YoY) | | :------------------------------------------------------------------------------------------------ | :-------------------------- | :-------------------------- | :------------- | :--------------------------- | :--------------------------- | :------------- | | Gross premiums written | $60,324 | $55,647 | 8.4% | $285,355 | $276,110 | 3.3% | | Net premiums earned | $65,712 | $66,073 | -0.5% | $267,125 | $271,698 | -1.7% | | Loss and loss adjustment expenses incurred | $36,455 | $36,524 | -0.2% | $148,263 | $152,316 | -2.7% | | Underwriting and certain other operating costs, commissions, salaries and benefits | $18,988 | $17,421 | 9.0% | $78,313 | $72,032 | 8.7% | | Policyholder dividends | $732 | $182 | 302.2% | $2,957 | $2,699 | 9.6% | | Underwriting profit (pre-tax) | $9,537 | $11,946 | -20.2% | $37,592 | $44,651 | -15.8% | | **Insurance Ratios:** | | | | | | | | Current accident year loss ratio | 71.0% | 71.0% | | 71.0% | 71.0% | | | Prior accident year loss ratio | -15.5% | -15.7% | | -15.5% | -14.9% | | | Net loss ratio | 55.5% | 55.3% | | 55.5% | 56.1% | | | Net underwriting expense ratio | 28.9% | 26.4% | | 29.3% | 26.5% | | | Net dividend ratio | 1.1% | 0.3% | | 1.1% | 1.0% | | | Net combined ratio | 85.5% | 82.0% | | 85.9% | 83.6% | | - **Gross premiums written increased by 8.4%** in the fourth quarter of 2023 and **3.3%** for the full year 2023[4](index=4&type=chunk) - The **net combined ratio for the full year 2023 was 85.9%**, an increase from 83.6% in 2022[4](index=4&type=chunk) [Operational Highlights](index=2&type=section&id=Operational%20Highlights) Voluntary premiums increased by 4.7% in Q4 due to higher policy count, while payroll audits significantly boosted premiums written, and the company reported favorable net loss reserve development for prior accident years, reducing loss and loss adjustment expenses, attributed to proactive claims handling, with the underwriting expense ratio increasing due to lower earned premium and higher insurance-related assessments - **Voluntary premiums on policies written in Q4 2023 were 4.7% higher** than in Q4 2022, primarily due to an increase in policy count[4](index=4&type=chunk) - Payroll audits and related premium adjustments increased premiums written by **$4.8 million** in Q4 2023 and **$24.0 million** for the full year 2023[4](index=4&type=chunk) - Favorable net loss reserve development for prior accident years reduced loss and loss adjustment expenses by **$10.2 million** in Q4 and **$41.4 million** for the full year 2023, attributed to proactive claims handling[4](index=4&type=chunk) - The **underwriting expense ratio increased to 28.9%** in Q4 and **29.3% for FY 2023**, due to slightly lower earned premium and increased insurance related assessments[4](index=4&type=chunk) - The **effective tax rate for the full year 2023 was 19.7%**, up from 17.8% for 2022, due to a decrease in the proportion of tax-exempt interest income relative to taxable interest income and underwriting profit[4](index=4&type=chunk) [INVESTMENT RESULTS](index=3&type=section&id=INVESTMENT%20RESULTS) This section analyzes AMERISAFE's investment income, portfolio performance, and the impact of market conditions on its financial results [Investment Income and Portfolio Performance](index=3&type=section&id=Investment%20Income%20and%20Portfolio%20Performance) Net investment income increased significantly for both Q4 and the full year 2023, driven by higher fixed income reinvestment rates, and the company also reported net unrealized gains on equity securities, reflecting positive equity market returns Investment Performance Metrics (Q4 and FY 2023 vs 2022, in thousands) | Metric | Three Months Ended Dec 2023 | Three Months Ended Dec 2022 | % Change (QoQ) | Twelve Months Ended Dec 2023 | Twelve Months Ended Dec 2022 | % Change (YoY) | | :----------------------------------------- | :-------------------------- | :-------------------------- | :------------- | :--------------------------- | :--------------------------- | :------------- | | Net investment income | $8,077 | $7,642 | 5.7% | $31,339 | $27,223 | 15.1% | | Net realized gains on investments (pre-tax) | $1,113 | $1,038 | 7.2% | $6,579 | $3,440 | 91.3% | | Net unrealized gains (losses) on equity securities (pre-tax) | $5,120 | $4,892 | NM | $1,228 | ($8,092) | NM | | Pre-tax investment yield | 3.5% | 3.1% | | 3.4% | 2.7% | | | Tax-equivalent yield | 3.7% | 3.4% | | 3.7% | 3.4% | | - **Net investment income increased 5.7% to $8.1 million** in Q4 and **15.1% to $31.3 million** for the full year 2023, due to higher fixed income reinvestment rates[6](index=6&type=chunk) - **Net unrealized gains on equity securities were $5.1 million** in Q4 and **$1.2 million** for the full year, reflecting favorable equity market returns[6](index=6&type=chunk) - The carrying value of AMERISAFE's investment portfolio, including cash and cash equivalents, was **$896.5 million** as of December 31, 2023[6](index=6&type=chunk) [CAPITAL MANAGEMENT](index=3&type=section&id=CAPITAL%20MANAGEMENT) This section outlines AMERISAFE's strategies for managing capital, including share repurchases and dividend adjustments, to enhance shareholder value [Shareholder Returns and Capital Allocation](index=3&type=section&id=Shareholder%20Returns%20and%20Capital%20Allocation) AMERISAFE continued its capital management efforts by repurchasing shares and increasing its regular quarterly dividend - The Company repurchased **46,741 shares** at an average cost of **$46.45 per share** for a total of **$2.2 million** in Q4 2023[7](index=7&type=chunk) - The remaining outstanding share repurchase authorization as of December 31, 2023, is **$10.4 million**[7](index=7&type=chunk) - The Board of Directors increased the regular quarterly dividend by **8.8% from $0.34 per share to $0.37 per share**[7](index=7&type=chunk) [SUPPLEMENTAL INFORMATION](index=4&type=section&id=SUPPLEMENTAL%20INFORMATION) This section provides additional financial details, including reconciliations of non-GAAP measures and management's rationale for their use [Non-GAAP Financial Measures Reconciliation](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) This section provides a reconciliation of non-GAAP financial measures, such as operating net income and operating earnings per share, to their most directly comparable GAAP measures, which management believes enhances understanding of core operating performance Reconciliation of GAAP to Non-GAAP Financial Measures (Q4 and FY 2023 vs 2022, in thousands except per share amounts) | Metric | Three Months Ended Dec 2023 | Three Months Ended Dec 2022 | Twelve Months Ended Dec 2023 | Twelve Months Ended Dec 2022 | | :----------------------------------------- | :-------------------------- | :-------------------------- | :--------------------------- | :--------------------------- | | Net income | $19,181 | $20,778 | $62,108 | $55,602 | | Less: Net realized gains on investments | $1,113 | $1,038 | $6,579 | $3,440 | | Less: Net unrealized gains (losses) on equity securities | $5,120 | $4,892 | $1,228 | ($8,092) | | Add: Tax effect (1) | ($1,309) | ($1,245) | ($1,639) | $977 | | Operating net income (2) | $14,257 | $16,093 | $55,940 | $59,277 | | Return on average equity (4) | 24.4% | 24.1% | 20.4% | 15.5% | | Operating return on average adjusted equity (2) | 17.4% | 17.8% | 17.7% | 16.5% | | Diluted earnings per share | $1.00 | $1.08 | $3.23 | $2.88 | | Operating earnings per share (2) | $0.74 | $0.84 | $2.91 | $3.07 | - **Operating net income for FY 2023 was $55.94 million**, compared to GAAP net income of **$62.11 million**[8](index=8&type=chunk) - **Operating earnings per share for FY 2023 was $2.91**, compared to diluted EPS of **$3.23**[8](index=8&type=chunk) [Management's Rationale for Non-GAAP Measures](index=5&type=section&id=Management%27s%20Rationale%20for%20Non-GAAP%20Measures) Management uses non-GAAP measures like operating net income and operating earnings per share to provide investors with a clearer view of the company's core operating performance, excluding certain non-recurring or non-operational items - Management believes that investors' understanding of core operating performance is enhanced by AMERISAFE's disclosure of non-GAAP financial measures[9](index=9&type=chunk) - Non-GAAP measures include operating net income, average adjusted shareholders' equity, operating return on average adjusted equity, and operating earnings per share[9](index=9&type=chunk) [CORPORATE INFORMATION](index=5&type=section&id=CORPORATE%20INFORMATION) This section provides essential corporate details, including conference call schedules, company profile, and forward-looking statement disclaimers [Conference Call Information](index=5&type=section&id=Conference%20Call%20Information) AMERISAFE scheduled a conference call for February 22, 2024, to discuss the results and future outlook, with details provided for participation via phone and webcast - AMERISAFE scheduled a conference call for **February 22, 2024, at 10:30 a.m. Eastern Time** to discuss the results for the quarter and comment on future periods[10](index=10&type=chunk) - Investors, analysts, and the general public can listen to the conference call over the Internet by visiting the 'Investor Relations Home' page of the 'Investors' section of the Company's website (http://www.amerisafe.com)[10](index=10&type=chunk) [About AMERISAFE](index=5&type=section&id=About%20AMERISAFE) AMERISAFE is a specialty provider of workers' compensation insurance, focusing on small to mid-sized employers in high-hazard industries across 27 states - AMERISAFE, Inc. is a specialty provider of workers' compensation insurance focused on small to mid-sized employers engaged in hazardous industries[11](index=11&type=chunk) - Key industries served include construction, trucking, logging and lumber, agriculture, and manufacturing[11](index=11&type=chunk) - AMERISAFE actively markets workers' compensation insurance in **27 states**[11](index=11&type=chunk) [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This section contains a standard disclaimer regarding forward-looking statements, cautioning that actual results may differ materially from projections due to various risks and uncertainties, and the company does not undertake to update these statements - Statements in the press release that are not historical facts are forward-looking statements, based on management's estimates, assumptions, and projections[12](index=12&type=chunk) - Actual results may differ materially due to risks, uncertainties, and other factors, as set forth in the Company's filings with the SEC, including the Annual Report on Form 10-K[12](index=12&type=chunk) - AMERISAFE cautions not to place undue reliance on forward-looking statements and does not undertake any obligation to publicly update or revise them[12](index=12&type=chunk) [CONSOLIDATED FINANCIAL STATEMENTS](index=6&type=section&id=CONSOLIDATED%20FINANCIAL%20STATEMENTS) This section presents AMERISAFE's official financial statements, including detailed income statements and balance sheets for the reported periods [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) The Consolidated Statements of Income provide a detailed breakdown of revenues (premiums, investment income) and expenses (loss & LAE, underwriting costs, policyholder dividends) leading to net income and earnings per share for Q4 and the full year 2023 and 2022 Consolidated Statements of Income (Q4 and FY 2023 vs 2022, in thousands except per share amounts) | Metric | Three Months Ended Dec 2023 | Three Months Ended Dec 2022 | Twelve Months Ended Dec 2023 | Twelve Months Ended Dec 2022 | | :---------------------------------------------------------------- | :-------------------------- | :-------------------------- | :--------------------------- | :--------------------------- | | Gross premiums written | $60,324 | $55,647 | $285,355 | $276,110 | | Net premiums earned | $65,712 | $66,073 | $267,125 | $271,698 | | Net investment income | $8,077 | $7,642 | $31,339 | $27,223 | | Total revenues | $80,116 | $79,761 | $306,853 | $294,737 | | Loss and loss adjustment expenses incurred | $36,455 | $36,524 | $148,263 | $152,316 | | Underwriting and other operating costs | $18,988 | $17,421 | $78,313 | $72,032 | | Total expenses | $56,169 | $54,111 | $229,476 | $227,091 | | Income before taxes | $23,947 | $25,650 | $77,377 | $67,646 | | Income tax expense | $4,766 | $4,872 | $15,269 | $12,044 | | Net income | $19,181 | $20,778 | $62,108 | $55,602 | | Basic earnings per share | $1.00 | $1.09 | $3.24 | $2.89 | | Diluted earnings per share | $1.00 | $1.08 | $3.23 | $2.88 | - **Total revenues for FY 2023 increased to $306.85 million** from **$294.74 million** in FY 2022[15](index=15&type=chunk) - **Net income for FY 2023 was $62.11 million**, resulting in **diluted EPS of $3.23**[15](index=15&type=chunk) [Consolidated Balance Sheets](index=7&type=section&id=Consolidated%20Balance%20Sheets) The Consolidated Balance Sheets present the company's financial position as of December 31, 2023, and 2022, detailing assets (investments, cash, receivables) and liabilities (reserves, unearned premiums) and shareholders' equity Consolidated Balance Sheets (as of Dec 31, 2023 vs 2022, in thousands) | Metric | December 31, 2023 | December 31, 2022 | | :----------------------------------------- | :---------------- | :---------------- | | **Assets:** | | | | Investments | $857,786 | $888,987 | | Cash and cash equivalents | $38,682 | $61,469 | | Total Assets | $1,229,162 | $1,269,279 | | **Liabilities and Shareholders' Equity:** | | | | Reserves for loss and loss adjustment expenses | $673,994 | $696,037 | | Unearned premiums | $116,585 | $114,976 | | Total Liabilities and Shareholders' Equity | $1,229,162 | $1,269,279 | | Shareholders' equity | $292,451 | $317,432 | - **Total assets decreased from $1,269.28 million in 2022 to $1,229.16 million in 2023**[16](index=16&type=chunk) - **Shareholders' equity decreased from $317.43 million in 2022 to $292.45 million in 2023**[16](index=16&type=chunk) - **Reserves for loss and loss adjustment expenses decreased from $696.04 million in 2022 to $673.99 million in 2023**[16](index=16&type=chunk)

AMERISAFE, Inc. (AMSF) is slated to report its fourth-quarter 2023 results on Feb 21, after the closing bell. The company’s earnings missed estimates in the last reported quarter.What Do the Estimates Say?The Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) of 66 cents indicates a 21.4% decrease from the year-ago quarter’s reported earnings of 84 cents. The consensus estimate has witnessed no movement in the past week.The Zacks Consensus Estimate for fourth-quarter revenues is pegged at ...