Ategrity Specialty (NYSE:ASIC) Given New $27.00 Price Target at Wells Fargo & Company

Ategrity Specialty (NYSE:ASIC) had its price objective raised by research analysts at Wells Fargo & Company from $25.00 to $27.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 29.75% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Barclays upped their price objective on shares of Ategrity Specialty from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday. Weiss Ratings initiated coverage on Ategrity Specialty in a research note on Wednesday, January 14th. They set a “sell (d)” rating on the stock. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.50.

Ategrity Specialty Trading Up 18.9%

Ategrity Specialty stock traded up $3.31 during trading hours on Friday, hitting $20.81. The stock had a trading volume of 477,228 shares, compared to its average volume of 100,522. Ategrity Specialty has a one year low of $16.35 and a one year high of $25.30. The company has a market capitalization of $1.00 billion and a PE ratio of 23.92.

Ategrity Specialty (NYSE:ASIC) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.35 by $0.16. Ategrity Specialty had a net margin of 17.32% and a return on equity of 15.15%. The company had revenue of $123.34 million during the quarter, compared to the consensus estimate of $111.45 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund bought a new position in Ategrity Specialty in the 4th quarter worth approximately $27,000. Strs Ohio raised its holdings in shares of Ategrity Specialty by 54.5% in the fourth 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. Police & Firemen s Retirement System of New Jersey purchased a new position in Ategrity Specialty during the 4th quarter worth approximately $41,000. State of Wyoming boosted its holdings in shares of Ategrity Specialty by 1,663.6% during the 4th quarter. State of Wyoming now owns 2,469 shares of the company’s stock worth $52,000 after purchasing an additional 2,329 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Ategrity Specialty during the 4th quarter valued at about $76,000.

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.