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

Ategrity Specialty (NYSE:ASIC) has earned an average rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $26.50.

Several brokerages have recently issued reports on ASIC. Weiss Ratings upgraded Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Wall Street Zen raised shares of Ategrity Specialty from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wells Fargo & Company dropped their target price on Ategrity Specialty from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on Ategrity Specialty from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Finally, Barclays upped their price target on Ategrity Specialty from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, February 20th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. New York State Common Retirement Fund acquired a new stake in Ategrity Specialty in the 4th quarter valued at $27,000. Strs Ohio increased its holdings in Ategrity Specialty by 54.5% in the 4th 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 acquired a new position in Ategrity Specialty during the fourth quarter worth $41,000. State of Wyoming lifted its holdings in Ategrity Specialty by 1,663.6% during the fourth 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 acquired a new stake in shares of Ategrity Specialty in the fourth quarter valued at about $76,000.

Ategrity Specialty Stock Up 1.8%

Shares of NYSE:ASIC opened at $21.15 on Friday. The company’s 50-day simple moving average is $20.01. Ategrity Specialty has a 1 year low of $16.35 and a 1 year high of $25.30. The firm has a market cap of $1.02 billion and a price-to-earnings ratio of 11.37.

Ategrity Specialty (NYSE:ASIC) last issued 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. Ategrity Specialty had a return on equity of 15.29% and a net margin of 19.75%.The business had revenue of $128.96 million for the quarter. On average, equities analysts predict that Ategrity Specialty will post 1.81 earnings per share for the current fiscal year.

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.