Brokerages Set Ategrity Specialty (NYSE:ASIC) PT at $26.50

Shares of Ategrity Specialty (NYSE:ASIC) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.50.

A number of brokerages recently weighed in on ASIC. Barclays raised their target price on shares of Ategrity Specialty from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Zacks Research raised shares of Ategrity Specialty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Wall Street Zen raised shares of Ategrity Specialty from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Wells Fargo & Company lowered their target price on shares of Ategrity Specialty from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ategrity Specialty from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th.

Ategrity Specialty Price Performance

Shares of ASIC opened at $20.84 on Wednesday. The company has a 50 day moving average of $20.22. The stock has a market capitalization of $1.00 billion and a P/E ratio of 11.20. Ategrity Specialty has a 1-year low of $16.35 and a 1-year high of $23.89.

Ategrity Specialty (NYSE:ASIC) last announced its earnings results on Wednesday, April 29th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.11. The business had revenue of $128.96 million for the quarter. Ategrity Specialty had a net margin of 19.75% and a return on equity of 15.29%. As a group, research analysts anticipate that Ategrity Specialty will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Strs Ohio raised its stake in shares of Ategrity Specialty by 54.5% during the fourth quarter. Strs Ohio now owns 1,700 shares of the company’s stock worth $36,000 after acquiring an additional 600 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of Ategrity Specialty during the fourth quarter worth approximately $27,000. Bank of New York Mellon Corp raised its stake in shares of Ategrity Specialty by 12.9% during the first quarter. Bank of New York Mellon Corp now owns 15,780 shares of the company’s stock worth $312,000 after acquiring an additional 1,809 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Ategrity Specialty during the fourth quarter worth approximately $41,000. Finally, State of Wyoming raised its stake in shares of Ategrity Specialty by 1,663.6% during the fourth quarter. State of Wyoming now owns 2,469 shares of the company’s stock worth $52,000 after acquiring an additional 2,329 shares in the last quarter.

Ategrity Specialty Company Profile

We are a profitable and growing specialty insurance company dedicated to providing excess and surplus (“E&S”) products to small to medium-sized businesses (“SMBs”) across the United States. We have built a proprietary underwriting platform that combines sophisticated data analytics with automated and streamlined processes to efficiently serve our clients and deliver long-term value to our stockholders. The SMB market is characterized by large volumes of small-sized policies, and we believe our competitive edge lies in our ability to offer consistent, high-speed, and low-touch interactions that our distribution partners value.