Ategrity Specialty (NYSE:ASIC) Receives $26.50 Consensus Target Price from Analysts

Shares of Ategrity Specialty (NYSE:ASIC) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.50.

A number of research firms have recently weighed in on ASIC. Barclays boosted their target price on Ategrity Specialty from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Citigroup lowered Ategrity Specialty from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Thursday, February 26th. JPMorgan Chase & Co. boosted their price objective on Ategrity Specialty from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Zacks Research upgraded shares of Ategrity Specialty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. Finally, Wall Street Zen raised shares of Ategrity Specialty from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th.

Ategrity Specialty Stock Performance

NYSE:ASIC traded down $0.07 during mid-day trading on Wednesday, reaching $21.22. 777 shares of the company were exchanged, compared to its average volume of 94,982. The stock has a market capitalization of $1.02 billion and a PE ratio of 11.41. Ategrity Specialty has a 12 month low of $16.35 and a 12 month high of $23.88. The firm’s fifty day moving average is $20.27.

Ategrity Specialty (NYSE:ASIC) last announced its 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 net margin of 19.75% and a return on equity of 15.29%. The company had revenue of $128.96 million during the quarter. On average, equities research analysts predict that Ategrity Specialty will post 1.98 EPS for the current fiscal year.

Institutional Trading of Ategrity Specialty

Several institutional investors and hedge funds have recently made changes to their positions in ASIC. State of Alaska Department of Revenue acquired a new position in shares of Ategrity Specialty in the 4th quarter valued at $76,000. Strs Ohio increased 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 purchasing an additional 600 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ategrity Specialty by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 153,259 shares of the company’s stock valued at $3,221,000 after buying an additional 4,866 shares during the period. Norges Bank acquired a new position in Ategrity Specialty in the fourth quarter valued at about $840,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Ategrity Specialty by 57.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 56,284 shares of the company’s stock worth $1,183,000 after buying an additional 20,426 shares during the last quarter.

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.