Ategrity Specialty (NYSE:ASIC) Sets New 52-Week High – Here’s What Happened

Ategrity Specialty (NYSE:ASIC) shares reached a new 52-week high on Monday . The stock traded as high as $25.63 and last traded at $25.4350, with a volume of 501 shares. The stock had previously closed at $25.42.

Analyst Ratings Changes

Several equities analysts recently issued reports on ASIC shares. Wall Street Zen upgraded shares of Ategrity Specialty from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings raised Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Zacks Research lowered Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Finally, Wells Fargo & Company dropped their price objective on Ategrity Specialty from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Ategrity Specialty currently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Ategrity Specialty Stock Performance

The company has a 50-day moving average price of $20.85. The company has a market capitalization of $1.20 billion and a P/E ratio of 13.48.

Ategrity Specialty (NYSE:ASIC) last posted 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 for the quarter. Ategrity Specialty had a return on equity of 15.29% and a net margin of 19.75%. Equities analysts anticipate that Ategrity Specialty will post 1.98 EPS for the current year.

Hedge Funds Weigh In On Ategrity Specialty

Large investors have recently modified their holdings of the company. Strs Ohio increased its stake in Ategrity Specialty by 54.5% during the 4th quarter. Strs Ohio now owns 1,700 shares of the company’s stock valued at $36,000 after purchasing an additional 600 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Ategrity Specialty in the fourth quarter valued at $27,000. Bank of New York Mellon Corp grew its holdings 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 valued at $312,000 after buying an additional 1,809 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Ategrity Specialty during the fourth quarter worth about $41,000. Finally, State of Wyoming raised its holdings in shares of Ategrity Specialty by 1,663.6% in the 4th 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.

About Ategrity Specialty

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.