Emerald Advisers LLC Decreases Stock Holdings in Ategrity Specialty $ASIC

Emerald Advisers LLC lessened its holdings in shares of Ategrity Specialty (NYSE:ASIC) by 98.2% during the first quarter, Holdings Channel reports. The firm owned 3,072 shares of the company’s stock after selling 163,975 shares during the quarter. Emerald Advisers LLC’s holdings in Ategrity Specialty were worth $61,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ASIC. New York State Common Retirement Fund purchased a new position in shares of Ategrity Specialty during the fourth quarter valued at approximately $27,000. Strs Ohio boosted its holdings in Ategrity Specialty by 54.5% in the fourth quarter. Strs Ohio now owns 1,700 shares of the company’s stock valued at $36,000 after acquiring an additional 600 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in Ategrity Specialty during the 4th quarter valued at $41,000. State of Wyoming increased its position in Ategrity Specialty by 1,663.6% during 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 during the period. Finally, State of Alaska Department of Revenue bought a new position in Ategrity Specialty in the 4th quarter worth $76,000.

Ategrity Specialty Stock Performance

Shares of NYSE ASIC opened at $24.52 on Wednesday. The company’s 50-day moving average is $21.48. Ategrity Specialty has a 52-week low of $16.35 and a 52-week high of $25.84. The stock has a market cap of $1.18 billion and a P/E ratio of 13.19.

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, beating the consensus estimate of $0.40 by $0.11. Ategrity Specialty had a return on equity of 15.29% and a net margin of 19.75%.The firm had revenue of $128.96 million for the quarter. As a group, equities research analysts forecast that Ategrity Specialty will post 1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

ASIC has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Ategrity Specialty from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Wall Street Zen raised Ategrity Specialty from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th. Barclays upped 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, July 7th. Finally, Zacks Research lowered shares of Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Ategrity Specialty 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.