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

Ategrity Specialty (NYSE:ASIC) has been given an average rating of “Moderate Buy” by the six research firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $27.00.

ASIC has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Ategrity Specialty from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday. 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. Zacks Research cut Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 19th. Wall Street Zen upgraded Ategrity Specialty from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th.

Ategrity Specialty Trading Down 1.3%

Shares of NYSE:ASIC opened at $24.66 on Friday. The stock has a market capitalization of $1.18 billion and a price-to-earnings ratio of 13.26. Ategrity Specialty has a 1 year low of $16.35 and a 1 year high of $25.84. The stock’s fifty day moving average price is $21.03.

Ategrity Specialty (NYSE:ASIC) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.11. The firm 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%. On average, sell-side analysts anticipate that Ategrity Specialty will post 1.98 earnings per share for the current fiscal year.

Institutional Trading of Ategrity Specialty

A number of hedge funds have recently modified their holdings of ASIC. New York State Common Retirement Fund acquired a new stake in Ategrity Specialty in the 4th quarter valued at $27,000. Strs Ohio raised its stake in 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. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Ategrity Specialty during the fourth quarter valued at $41,000. State of Wyoming boosted its stake 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 valued at $52,000 after purchasing an additional 2,329 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Ategrity Specialty in the 4th quarter worth about $76,000.

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.