Ategrity Specialty (NYSE:ASIC) Given Consensus Rating of “Moderate Buy” by Analysts

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

Several research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Barclays lifted their price objective on Ategrity Specialty from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. increased their target price on Ategrity Specialty from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. Wall Street Zen raised Ategrity Specialty from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Citigroup cut shares of Ategrity Specialty from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research note on Thursday, February 26th.

Ategrity Specialty Stock Performance

Shares of ASIC stock opened at $20.67 on Friday. The stock has a market capitalization of $992.83 million and a PE ratio of 11.11. The business has a fifty day moving average price of $20.03. Ategrity Specialty has a twelve month low of $16.35 and a twelve month high of $25.30.

Ategrity Specialty (NYSE:ASIC) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 earnings per share (EPS) 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 return on equity of 15.29% and a net margin of 19.75%. As a group, equities research analysts predict that Ategrity Specialty will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. VARCOV Co. purchased a new stake in shares of Ategrity Specialty during the fourth quarter valued at approximately $257,000. State of Wyoming increased its holdings in 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 buying an additional 2,329 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in Ategrity Specialty in the 4th quarter worth about $41,000. New York State Common Retirement Fund purchased a new position in Ategrity Specialty in the 4th quarter worth about $27,000. Finally, Bank of America Corp DE lifted its stake in Ategrity Specialty by 14.7% during the 1st quarter. Bank of America Corp DE now owns 101,630 shares of the company’s stock valued at $2,009,000 after acquiring an additional 12,988 shares during the period.

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.