Ategrity Specialty (NYSE:ASIC) Price Target Raised to $30.00 at Wells Fargo & Company

Ategrity Specialty (NYSE:ASIC) had its target price boosted by investment analysts at Wells Fargo & Company from $26.00 to $30.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 24.93% from the company’s previous close.

A number of other research analysts have also commented on ASIC. Weiss Ratings upgraded shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 18th. Barclays upped their target price on Ategrity Specialty from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wall Street Zen raised Ategrity Specialty from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Zacks Research downgraded 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Ategrity Specialty Stock Performance

NYSE ASIC traded down $0.23 during trading hours on Thursday, reaching $24.01. The company’s stock had a trading volume of 26,981 shares, compared to its average volume of 94,271. The company has a 50-day moving average of $21.11. Ategrity Specialty has a 52 week low of $16.35 and a 52 week high of $25.84. The company has a market cap of $1.15 billion and a PE ratio of 12.90.

Ategrity Specialty (NYSE:ASIC) last issued its earnings results on Wednesday, April 29th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.11. The firm had revenue of $128.96 million for the quarter. Ategrity Specialty had a return on equity of 15.29% and a net margin of 19.75%. As a group, sell-side analysts forecast that Ategrity Specialty will post 1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ASIC. State of Alaska Department of Revenue acquired a new position in shares of Ategrity Specialty during the 4th quarter worth $76,000. Strs Ohio lifted its stake in shares of Ategrity Specialty by 54.5% in the 4th 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 boosted its holdings in Ategrity Specialty by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 153,259 shares of the company’s stock worth $3,221,000 after purchasing an additional 4,866 shares in the last quarter. Norges Bank bought a new stake in Ategrity Specialty in the fourth quarter worth $840,000. Finally, Goldman Sachs Group Inc. increased its position 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.

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.