JPMorgan Chase & Co. Increases Ategrity Specialty (NYSE:ASIC) Price Target to $29.00

Ategrity Specialty (NYSE:ASIC) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $27.00 to $29.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 24.95% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Barclays raised their price objective on shares of Ategrity Specialty from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings raised shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Wall Street Zen raised Ategrity Specialty from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wells Fargo & Company upped their price objective on Ategrity Specialty from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Zacks Research downgraded Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a report on Friday, June 19th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Ategrity Specialty has an average rating of “Moderate Buy” and an average target price of $28.50.

Ategrity Specialty Trading Up 1.8%

Shares of Ategrity Specialty stock traded up $0.42 on Monday, hitting $23.21. 5,984 shares of the company’s stock traded hands, compared to its average volume of 93,405. The firm has a market capitalization of $1.11 billion and a PE ratio of 12.47. The business’s 50-day simple moving average is $21.68. Ategrity Specialty has a 52-week low of $16.35 and a 52-week high of $25.84.

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

Institutional Trading of Ategrity Specialty

Several hedge funds have recently made changes to their positions in ASIC. Strs Ohio grew its stake in Ategrity Specialty by 54.5% during the 4th quarter. Strs Ohio now owns 1,700 shares of the company’s stock worth $36,000 after buying an additional 600 shares during the last quarter. New York State Common Retirement Fund bought a new stake in Ategrity Specialty in the fourth quarter valued at $27,000. Bank of New York Mellon Corp lifted its stake in Ategrity Specialty by 12.9% in the first quarter. Bank of New York Mellon Corp now owns 15,780 shares of the company’s stock valued at $312,000 after buying an additional 1,809 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Ategrity Specialty during the fourth quarter valued at $41,000. Finally, State of Wyoming grew its position 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 during 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.